If a Market Is in Disequilibrium,economists Would Predict That the Product's

question 108

Multiple Choice

If a market is in disequilibrium,economists would predict that the product's price would __________ to reach equilibrium when the quantity demanded is __________ than the quantity supplied.

• A) rise; greater
• B) fall; less
• C) fall; greater
• D) rise; less
• E) a and b

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Definitions:

Population Standard Deviation

A measure of the dispersion of a set of data points in a population away from its mean.

Sample Mean

The average of a set of values from a sample of a population, used to estimate the population mean.

Sample Standard Deviation

A measure of dispersion that indicates how much the values in a sample deviate from the sample mean.

Rejection Region

The range of values in a statistical test for which the null hypothesis is rejected.