What happens when a market is in disequilibrium and prices are flexible?
A. The price will change.
B. The price stays the same.
C. The government sets the price.
D. The supply or demand will change.
Ans: A. The price will change.
Economics
You might also like to view...
Firms in perfect competition produce the productively efficient output level in the short run and in the long run
Indicate whether the statement is true or false
Economics
The government agency that oversees the banking system and is responsible for the conduct of monetary policy in the United States is
A) the Federal Reserve System. B) the United States Treasury. C) the U.S. Gold Commission. D) the House of Representatives.
Economics