• 2021-04-14
    Suppose that the quantity demanded for cars exceeds the quantity supplied of cars. We would expect that:
  • the price of cars will increase.

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    • 0

      Which of the following would increase quantity supplied, increase quantity demanded, and decrease the price that consumers pay? ( ) A: the imposition of a binding price floor . B: the removal of a binding price floor. C: the passage of a tax levied on producers. D: the repeal of a tax levied on producers .

    • 1

      When the interest rate falls in the money market, the quantity of money demanded ________ and the quantity of money supplied ________. A: increases; decreases B: decreases; increases C: stays the same; decreases D: increases; stays the same

    • 2

      When a monopolistically competitive firm raises its price, A: quantity demanded falls to zero. B: quantity demanded declines but not to zero. C: the market supply curve shifts outward. D: quantity demanded remains constant.

    • 3

      Frequently, in the short run, the quantity supplied of a good is_________. A: impossible, or nearly impossible, to measure B: not very responsive to price changes C: determined by psychological forces and other non-economic forces D: determined by the quantity demanded of the good

    • 4

      When there is a change in the quantity demanded it means that the: