If the Price of a Good Is Initially Below the Equilibrium

question 27

Multiple Choice

If the price of a good is initially below the equilibrium level

• A)the supply curve will shift leftward.
• B)the supply curve will shift rightward.
• C)firms supply none of the good.
• D)excess demand exists.

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Definitions:

Long-Term Outcome Objectives

Goals intended to assess the impact or results of a project over an extended period.

Impact

The marked effect or influence of one thing on another.

Impact Evaluation

The assessment of the changes that can be attributed to a particular intervention, such as a program or policy.

Measurement

The process of obtaining a numerical value to represent a variable or attribute.