If There Is a Surplus

question 309

Multiple Choice

If there is a surplus

• A)fewer producers want to sell the product because it is too scarce.
• B)consumers will drive up the price further.
• C)firms will drive up the price to enhance profits.
• D)the price will decline to the equilibrium level.

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Definitions:

Flex-Time System

An employment schedule that allows workers to alter their start and end times, offering flexibility to accommodate personal needs and preferences.

Work Sharing

A strategy aiming to reduce layoffs during slow periods by enabling employees to work reduced hours while partly compensating their reduced earnings with unemployment benefits.

Weekly Hours

The number of hours scheduled for work or assignment within a week.

Telecommuting Program

A work arrangement that allows employees to perform their job duties from outside the traditional office environment, often from home, facilitated by technological tools.