Economists define "shortage" as
A) quantity demanded exceeds quantity supplied.
B) quantity demanded equals quantity supplied.
C) quantity supplied exceeds quantity demanded.
D) a situation whereby the prevailing price is higher than the market-clearing price.
A
Economics
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The proposition that if property rights exist and are enforced, then private transactions are efficient is referred to as the
A) Coase theorem. B) property rights theorem. C) pollution rights theorem. D) emission rights theorem. E) private-market efficiency theorem.
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The Sherman Act was patterned closely after the British Act against monopolies
Indicate whether the statement is true or false
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