-When Price Is $2
A)there Is a Surplus

question 244

Multiple Choice

$\begin{array}{ccc}\text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \\30 & \$ 10 & 64 \\40 & \$ 8 & 55 \\50 & \$ 6 & 50 \\60 & \$ 4 & 40 \\70 & \$ 2 & 20\end{array}$
-When price is $2

• A)there is a surplus.
• B)there is a shortage.
• C)quantity demanded is less than quantity supplied.
• D)price must fall to get to equilibrium.

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Definitions:

Term Structure

The relationship between interest rates or bond yields and different terms (or maturities) on the debt.

Bank Loans

Financial borrowing provided by a bank to individuals or businesses, usually requiring repayment with interest.

On Demand

A term indicating that a payment or service is due immediately or whenever requested.

Revolving Credit Agreement

A type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are a common form of revolving credit.