If a Shortage Exists in a Market for a Good

question 131

True/False

If a shortage exists in a market for a good, the price of that good will tend to fall.

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Definitions:

Developing Countries

Nations with lower levels of industrialization, underdeveloped economic infrastructure, and lower living standards.

Low-Income Countries

Nations with a gross national income (GNI) per capita below a specific threshold set by international organizations.

Middle-Income Countries

Nations with a gross national income (GNI) per capita that falls between low-income and high-income thresholds defined by international financial institutions.

Infant Mortality Rate

A statistical measure representing the number of infant deaths per 1,000 live births in a given year.