A. supply exceeds demand
B. a surplus exists
C. there is perfectly inelastic demand for the good
D. demand exceeds supply
Related Mcqs:
- Economics say that there has to be some from of rationing whenever ?
A. inflation occurs
B. there are externalities
C. merit goods are produced
D. there is excess demand - Bance Solida has, in the past, always operated with a reserve ratio of 25 percent. It has now been taken over by Gung-Ho Bank Which operates with a reserve ration of 12½ percent, Assuming that Banca Solida adopts the business practices of its new owner, What will be the effect on money supply in the country in which Banca Solida operates ?
A. Money supply will increase because Banca Solida will increase its loans
B. The effect on money supply cannot be determined from the information given
C. Money supply will decrease because the loans will have to be repaid
D. Money supply will be unchanged because the central bank has made no policy changes - Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?
A. Free market economy
B. Laissez faire also Laisser faire
C. Open market economy
D. Liberal market economy - To determine the correct level of GNP, it is necessary to ?
A. To add up the values of goods and services for one year
B. Add up all savings
C. To count all imports
D. To add up the value of semi-finished goods - Bank loans are usually altered to have longer maturities in order to assist the borrower in making the necessary repayments. What these loans are called____________?
A. Rearranged loans
B. Rescheduled loans
C. Altered loans
D. None of these - Which scholar argues the following Plantations have no significant advantage over peasants [for] crops for which centralized processing and marketing are not necessary Cocoa and coconuts are typical examples of a lack of large scale economies Peasants can grow and process these crops in small lots with no large capital requirement beyond small indigenous tools and facilities ?
A. Yujiro Hayami
B. Raanan Weitz
C. Hans Singer
D. Tim Dyson - If the ABC Typing Service is earning a rate of return greater than the return necessary for the business to continue operations, then ?
A. normal profit is zero
B. total costs exceed total revenue
C. total costs exceed normal profit
D. the firm is earning are economic profit - Which of the following is necessary for a natural monopoly ?
A. economies of scale
B. a high proportion of the total cost in the cost of capital goods
C. the market is very small
D. all of the above - Experiences over the last three decades has suggested that in order for economic development to occur, it is necessary for an economy to ?
A. stress agricultural development over industrial development
B. promote industrial development over agriculture
C. use a balanced strategy that promotes both agricultural and industrial development
D. stress the importation of agricultural products and the export of manufactured goods - one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?
A. quickly
B. slowly
C. very infrequently
D. instantly
