If a Surplus Exists in a Market, Then We Know

question 229

Multiple Choice

If a surplus exists in a market, then we know that the actual price is

• A)above the equilibrium price, and quantity supplied is greater than quantity demanded.
• B)above the equilibrium price, and quantity demanded is greater than quantity supplied.
• C)below the equilibrium price, and quantity demanded is greater than quantity supplied.
• D)below the equilibrium price, and quantity supplied is greater than quantity demanded.

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Definitions:

Vice President

An official or executive ranking below the president of a country or organization, often tasked with specific duties or acting in the president's absence.

Hans Selye

A scientist known for his research on the effects of stress on the human body and for formulating the General Adaptation Syndrome model.

Alarm Phase

The initial stage of the body's response to stress, activating the fight or flight response and preparing the body to face or flee the threat.

Chronic Stress Phase

A prolonged period of stress without adequate relief or relaxation, leading to various health issues such as anxiety, depression, and cardiovascular diseases.