A competitive equilibrium is described by
A) a price only.
B) a quantity only.
C) the excess supply minus the excess demand.
D) a price and a quantity.
D
Economics
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The Federal Reserve focuses on the inflation rate based on the ________ rather than the CPI; to measure the underlying trend in inflation, it focuses on the ________
A) GDP deflator; overall GDP deflator B) GDP deflator; core GDP deflator C) PCE price index; core PCE price index D) PCE price index; overall PCE price index
Economics
Assume a ceiling price is set above the equilibrium price. The eventual result is a shortage
a. True b. False Indicate whether the statement is true or false
Economics