If a Market Shortage Exists

question 71

Multiple Choice

If a market shortage exists:

• A) The invisible hand will work to reduce the price.
• B) The only solution is for the government to raise the price.
• C) Producers will compete for customers by reducing prices.
• D) Consumers will compete for the product by offering to pay more.

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Definitions:

Minor Calyces

Small, funnel-shaped structures in the kidneys that collect urine from the renal pyramids and convey it to the major calyces.

Major Calyces

The large passageways in the kidney that collect urine from the minor calyces and funnel it into the renal pelvis.

Cortical Tissue

Brain tissue found in the cortex that is involved in processing sensory information, thinking, and consciousness.

Pyramids

Structures located in the medulla oblongata of the brain, involved in the transmission of motor signals to the spinal cord.