If the Price of a CD Is Equal to the Equilibrium

question 149

Multiple Choice

If the price of a CD is equal to the equilibrium price, there will be___________ of CDs and the price will__________ .

• A) surplus; fall
• B) surplus; rise
• C) shortage; fall
• D) neither a shortage nor surplus; not change

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Definitions:

Philadelphia Convention

The Philadelphia Convention, also known as the Constitutional Convention of 1787, was a meeting where the Constitution of the United States was created, replacing the Articles of Confederation.

Revenue Bills

Legislation focused on raising money for the government primarily through taxation or borrowing.

Treasury Department

The Treasury Department is a key sector of the government responsible for managing government revenue, producing currency, and formulating economic policy.

Barring Impeachment

Excluding the process or action of calling into question the integrity or validity of something, particularly in the context of removing a public official from office.