When Quantity Demanded Exceeds Quantity Supplied,a

question 128

Multiple Choice

When quantity demanded exceeds quantity supplied,a:

• A) shortage occurs and prices are bid up toward equilibrium.
• B) shortage occurs and prices are pushed down toward equilibrium.
• C) surplus occurs and prices are bid up toward equilibrium.
• D) surplus occurs and prices are pushed down toward equilibrium.

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Definitions:

Immigration

The action of coming to live permanently in a foreign country, often resulting in changes to personal identity, economic status, and social integration.

Racial Disparities

Differences that disproportionately affect individuals based on their race or ethnicity, often observed in societal aspects like health, income, and justice.

Income Levels

Categories of annual income that differentiate individuals, households, or groups, often used in socioeconomic studies to analyze financial status.

Reverse Discrimination

The claim that affirmative action and similar policies intended to address inequality end up discriminating against majority or historically advantaged groups.