Refer to the figure below. At a price of $9, there will be:
A. an excess supply of 5 units.
B. an excess demand of 1 unit.
C. an excess demand of 5 units.
D. an excess supply of 6 units.
Answer: A
Economics
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At least one economist has suggested that even large developing-country cities are economically too small. What argument would support this contention? How would you argue against it?
What will be an ideal response?
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When the money market is drawn with the value of money on the vertical axis, if the money supply rises
a. the price level and the value of money rise. b. the price level rises and the value of money falls. c. the price level falls and the value of money rises. d. the price level and the value of money fall.
Economics