If the current price of a good is the same as that found at the intersection of the market demand and supply curves, then:
A. the market is in equilibrium.
B. excess supply exists.
C. price will rise.
D. price will fall.
Answer: A
Economics
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If a rent ceiling is set below the equilibrium price, thus creating a ________, housing may be allocated by increasing search activity or creating a ________
A) shortage; black market B) shortage; free market C) surplus; black market D) surplus; open market E) surplus; free market
Economics
Suppose u = those adults who are unemployed and seeking work; e = those adults who are employed; and NLF = those adults not in the labor force. Which expression would equal the BLS definition of the unemployment rate?
a. u / (e + NLF) b. u / e c. u / (u + e) d. u / (e + NLF) e. u / (u + e ? NLF)
Economics