There Are Never Shortages or Surpluses When the Price in a Market

question 124

True/False

There are never shortages or surpluses when the price in a market is equal to the equilibrium price for the market.

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Definitions:

German Marks

The official currency of Germany before the adoption of the euro, used from 1873 to 2002.

Dollar Price

This refers to the cost or value of a good, service, or asset expressed in terms of the United States dollar.

English Pound

The currency of the United Kingdom, which is one of the world's major currencies used for trade and investment.

Gold Standard

A monetary system where a country's currency or paper money has a value directly linked to gold, used historically by many countries but largely abandoned today.