Multiple Choice
-In Figure1.1 if price is 7, then
A) the market is in equilibrium.
B) there is excess quantity supplied.
C) there is excess quantity demanded.
D) the market clears.
Correct Answer:

Verified
Correct Answer:
Verified
Q15: Describe what happens when demand or supply
Q16: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8790/.jpg" alt=" -In Figure1.1, if
Q17: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8790/.jpg" alt=" -In Figure1.1, if
Q18: What are exogenous and endogenous variables?
Q19: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8790/.jpg" alt=" -In Figure1.1, if
Q21: Among the prices that macroeconomists study are:<br>A)the
Q22: If price is below equilibrium in a
Q23: If prices are sticky:<br>A)the market quickly sticks
Q24: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8790/.jpg" alt=" -In Figure1.1 if
Q25: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8790/.jpg" alt=" -In Figure1.1, if