A. there is a shortage and the price will fall
B. the quantity demanded is equal to the quantity supplied supplied and the price remains unchanged
C. there is surplus and the price will rise
D. there is a shortage and the price will rise
E. there is a surplus and the price will fall
Related Mcqs:
- Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
A. purchase; decrease
B. purchase; increase
C. sell; increase
D. sell; decrease - If the price of a good is above the equilibrium price ?
A. there is a surplus and the price will rise
B. there is a shortage and the price will fall
C. there is a shortage and the price will rise
D. The quantity demanded is equal to the quantity supplied and the price remains unchanged
E. there is a surplus and the price will fall - Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?
A. The impact on both price and quantity is ambiguous
B. Price will decrease, quantity is ambiguous.
C. price will increase, quantity will decrease
D. price will increase, quantity is ambiguous.
E. Price will increase, quantity will increase - If the market price is below the equilibrium price ?
A. quantity demanded will be greater than quantity supplied
B. quantity demanded will be less than quantity supplied
C. demand will be less than supply.
D. quantity demanded will equal quantity supplied . - If the price of good is below the equilibrium price ?
A. there is a shortage and the price will rise
B. the quantity demanded is equal to the quantity supplied and the price remains unchanged
C. there is a shortage and the price will fall
D. there is a surplus and the price will rise - If the price was fixed below the equilibrium price there would be ?
A. Excess supply
B. Excess demand
C. Equilibrium
D. Downward pressure on prices - In the absence of traded, Norway’s equilibrium price and quantity equal ?
A. $1,500 and 2,800 computers
B. $2,000 and 1,600 computers
C. $2,500 and 2,000 computers
D. $3,500 and 2,000 computers - In the absence of trade, Canada’s equilibrium price and quantity equal ?
A. $65 and 40 calculators
B. $55 and 20 calculators
C. $45 and 25 calculators
D. $30 and 40 calculators - The equilibrium price clears the market it is the price at which _________________?
A. Everything is sold
B. Buyers spend all their money
C. Quantity demanded equal quality supplied
D. Excess demanded equals quantity
E. C and D - Which of the following statements is true if the government places a price ceiling on petrol at Rs150 per litre and the equilibrium price is Rs100 per litre ?
A. A significant increase in the demand for petrol could cause the price ceiling to become a binding constraint.
B. A significant increase in the supply for petrol could cause the price ceiling to become a binding constraint.
C. There will be a shortage of petrol
D. There will be surplus of petrol
