In the Case of a Surplus

question 139

Multiple Choice

In the case of a surplus,

• A)there is no need for adjustment because equilibrium is rarely perfect.
• B)the quantity supplied exceeds the quantity demanded at the current price level.
• C)producer incomes will fall and production will rise in order to make up for the shortfall.
• D)market price will rise.
• E)the quantity demanded exceeds the quantity supplied at the current price level.

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Definitions:

Social Class

A division of a society based on social and economic status, influencing individuals' lifestyles, education opportunities, and occupational prospects.

Fearing Divorce

The apprehension or anxiety about the potential dissolution of a marriage, which can influence individuals' decisions and relationships.

Never-married Mothers

Mothers who have children but have never been married.

Peers

Individuals who are of similar age, status, or interest, often influencing social behavior and interpersonal relationships.