If We Say That a Price Is Too High to Clear

question 255

Multiple Choice

If we say that a price is too high to clear the market, we mean that

• A) quantity demanded exceeds quantity supplied.
• B) the equilibrium price is above the current price.
• C) quantity supplied exceeds quantity demanded.
• D) the price of the good is likely to rise.

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Definitions:

Dominant Culture

The culture of the most powerful group in society, which often sets the norms and standards that others are expected to follow.

Cultural Diffusion

The distribution of social customs and cultural ideologies across various groups.

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