If the price of carrots is below the equilibrium price, the
A) quantity supplied of carrots exceeds the quantity demanded, and a shortage exists.
B) quantity demanded of carrots exceeds the quantity supplied, and a shortage exists.
C) quantity demanded of carrots exceeds the quantity supplied, and a surplus exists.
D) quantity supplied of carrots equals the quantity demanded.
E) quantity supplied of carrots exceeds the quantity demanded, and a surplus exists.
B
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In terms of importance, what place does the advent of the euro hold in economic history?
A) It is an important innovation in the evolution of fixed exchange rates. B) It is an interesting experiment from which we can learn lessons. C) It is a bold experiment, affecting hundreds of millions of people in one of the most prosperous economic regions. D) In the grand scheme of things, the euro is less important than the fixed exchange rate scheme devised in Bretton Woods, New Hampshire.
A market system is not considered an effective way of controlling self-interest
a. True b. False Indicate whether the statement is true or false