If the current price is above the equilibrium price, we would expect:
A) quantity demanded to exceed quantity supplied.
B) upward pressure on price.
C) quantity supplied to exceed quantity demanded.
D) no change in the market price.
Answer: C) quantity supplied to exceed quantity demanded.
Economics
You might also like to view...
Monetary policy has a greater impact in an open economy than it does in a closed economy
Indicate whether the statement is true or false
Economics
The machines workers have to work with are considered
A) entrepreneurship. B) financial capital. C) human capital. D) physical capital.
Economics