A Shortage Is the Amount by Which Quantity

question 59

Multiple Choice

A shortage is the amount by which quantity

• A)demanded exceeds quantity supplied.
• B)supplied exceeds quantity demanded.
• C)demanded increases when the price rises.
• D)demanded exceeds the equilibrium quantity.
• E)supplied exceeds the equilibrium quantity.

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Definitions:

Employed Adults

Individuals above a specified age who are currently working in paid employment.

Employed Count

The total number of individuals in an economy who are currently employed or working.

Retired Naval Officer

An individual who has served as a commissioned officer in the Navy and has since retired from active service.

Ski Instructor

A professional trained to teach individuals how to ski, often employed at ski resorts.