If a Market Is NOT in Equilibrium, Then Which

question 71

Multiple Choice

If a market is NOT in equilibrium, then which of the following is likely to occur?

• A) The price will adjust to bring the market to equilibrium.
• B) The supply curve will shift to bring the market to equilibrium.
• C) The demand curve will shift to bring the market to equilibrium.
• D) Both A and B are correct.

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Definitions:

President Pierce

Franklin Pierce, the 14th President of the United States (1853-1857), whose presidency is often criticized for his support of the Kansas-Nebraska Act and enforcement of the Fugitive Slave Act.

Cuba

An island country in the Caribbean, known for its significant historical events such as the Cuban Revolution and its strained relations with the United States.

Slave Power

Slave Power refers to the perception or reality of disproportionate political power held by slave owners in the United States, particularly in the antebellum South, affecting national decisions and policies.

Charles Sumner

An American politician and senator from Massachusetts, known for his deep commitment to the cause of civil rights and abolition of slavery.