When the Market Price Is Established Where Demand and Supply

question 155

Multiple Choice

When the market price is established where demand and supply curves intersect:

• A) consumer buying tends to exceed the quantity producers supply.
• B) the quantity consumers demand generally fall short of the quantity producers supply.
• C) the quantity demanded and the quantity supplied are equal.
• D) all of the above will result.

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Definitions:

Nixon Administration

The presidency of Richard Nixon, the 37th President of the United States, which lasted from 1969 to 1974.

Economic Aid

Financial assistance provided by one country or international organization to another to support its economic development and welfare.

CIA

The Central Intelligence Agency, a United States federal agency responsible for foreign intelligence and national security.

Pinochet

Augusto Pinochet, a Chilean general who led a coup d'état in 1973 and served as dictator of Chile until 1990, known for human rights abuses.