When a Surplus Exists

question 50

Multiple Choice

When a surplus exists:

• A) market forces will result in a lower price
• B) market forces will result in a higher price
• C) equilibrium is found
• D) market forces will cause a shortage

Understand the causes and effects of movements along and shifts in the long-run aggregate supply (LRAS) curve, including factors that lead to economic growth.

Analyze the impact of fiscal and monetary policies on the economy's output and price level in the context of the aggregate demand and aggregate supply model.

Interpret the significance of classical economic theories and key economic figures in the development of macroeconomic thought.

Describe how business cycles and economic phenomena like stagflation can be explained within the aggregate demand and aggregate supply framework.

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A life-threatening disease transmitted to humans by the bite of infected Anopheles mosquitoes, characterized by fever, chills, and flu-like symptoms.

DDT

Dichloro-Diphenyl-Trichloroethane, a synthetic pesticide known for its environmental impacts, including wildlife harm and contamination.

Breeding Areas

Specific environments or habitats where animals reproduce and rear their young.

Transmissible Disease

An infectious disease that can be spread from one individual to another, either directly or via an intermediary such as a vector.