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:

Cornell System

A systematic method of note-taking involving the division of a page into three sections: cues, notes, and summary, to organize and review notes efficiently.

Note Taking

A method of creating order and arranging thoughts and materials to help a person retain information.

Monotone Voice

A manner of speaking in which the pitch does not vary, often leading to a dull or unvaried delivery.

Attentive

Paying close attention or being careful about the tasks or people one is dealing with.