When a market is not in equilibrium:
A. a change in either supply or demand is required to reestablish equilibrium.
B. the economic motives of sellers and buyers will move the market to its equilibrium.
C. government intervention is required to achieve equilibrium.
D. there is neither excess supply nor excess demand.
Answer: B
You might also like to view...
Capital flight refers to
a. the movement of workers across international borders in response to exchange rate changes. b. the movement of funds between financial intermediaries when interest rates change. c. the ability of foreign direct investment to lift a country out of poverty. d. a large and sudden movement of funds out of a country.
A baker can produce two products: cupcakes and pies. The table below is the baker's production possibilities schedule:Production Possibilities ScheduleProductABCDEFCupcakes01220365681Pies1086420In moving from combination F to E, the opportunity cost of an additional 2 pies is
A. 2 cupcakes. B. 20 cupcakes. C. 56 cupcakes. D. 25 cupcakes.