When the Price of a Good Is Above Its Equilibrium

question 157

Multiple Choice

When the price of a good is above its equilibrium price, a:

• A) surplus puts upward pressure on the price.
• B) surplus puts downward pressure on the price.
• C) shortage puts upward pressure on the price.
• D) shortage puts downward pressure on the price.

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Definitions:

JFrame

A class in Java Swing used to create a window where components like buttons, text fields, panels can be added.

Java GUI Application

A Java program that uses the Graphical User Interface to interact with users, typically involving windows, buttons, and text fields.

Label

A user interface component used to display text or images on a screen, often within windows or web pages.

Button

A button in GUI development is a user interface element that can be clicked or tapped by the user to perform an action.