If Aggregate Quantity Supplied Is Greater Than Aggregate Quantity Demanded

question 68

Multiple Choice

If aggregate quantity supplied is greater than aggregate quantity demanded at a particular price level,then a

• A) shortage exists and consumers will bid the price level up.
• B) surplus exists and consumers will bid the price level up.
• C) surplus exists and the price level will decline.
• D) shortage exists and the price level will decline.
• E) c and d

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Definitions:

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Mock-Up

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