A shortage results from a current price being below the equilibrium price.

An increase in the effective corporate tax rate due to increased inflation results in

a. a upward shift of the investment schedule. b. a downward shift of the investment schedule. c. no shift of the investment schedule. d. a rightward shift of the saving schedule.

By 1916, there were 340,000 corporations in the U.S. The growth in the number of corporations was partly due to

a. increasing numbers of urban dwellers. b. the development of formal markets for stocks and bonds. c. the acceptance by most states of the doctrine of limited liability. d. mass production which led to lower per-unit costs for output. e. All of the above.