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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 12
Before you get started, you'll find it's much easier to answer many of these questions by first sketching a graph of a supply and demand curve. In fact, that graph will help you answer the first four questions.
Circle the letter that corresponds to the best answer.
When quantity demanded is greater than quantity supplied, there _____.
a) is a shortage
b) is a surplus
c) may be either a shortage or a surplus
d) may be neither a shortage nor a surplus
Circle the letter that corresponds to the best answer.
When quantity demanded is greater than quantity supplied, there _____.
a) is a shortage
b) is a surplus
c) may be either a shortage or a surplus
d) may be neither a shortage nor a surplus
Explanation
Verified
Verified
Quantity demanded refers to the amount o...
Macroeconomics 11th Edition by Stephen Slavin
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