If the Quantity Demanded of a Good Is Greater Than

question 162

Multiple Choice

If the quantity demanded of a good is greater than the quantity supplied of the good at the current price,then

• A)Price will increase until it reaches the equilibrium price.
• B)The demand curve will shift to the left to create equilibrium.
• C)The supply curve will shift to the right to create equilibrium.
• D)There is a surplus of the good.

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Definitions:

International Partner

An entity (could be a country, organization, or company) that collaborates with others across national borders in various projects or agreements.

West Indians

People from the West Indies, a region in the Caribbean, known for its diverse cultures, histories of colonialism, and significant diaspora communities.

Military Power

The capacity or ability of a nation to use armed forces to assert its will or defend its interests.

Agrarian Nation

Refers to a country or society primarily based on agriculture and farming as the main source of livelihood and economic activity.