Economists use the term Black Markets for situations where ?

Related Mcqs:

Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more than demand for personal computers In the market for personal computers i the market for personal computers, we would expect ?

A. the change in the equilibrium quantity to be ambiguous and the equilibrium price to fall. B. the equilibrium quantity to rise and the equilibrium price to rise C. the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous D. the equilibrium quantity to rise and the equilibrium price to … Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more...

It is necessary to ration a good whenever ?

A. supply exceeds demand B. a surplus exists C. there is perfectly inelastic demand for the good D. demand exceeds supply...

The allocation of resources is not efficient if ?

A. the marginal cost of production does not equal society’s marginal benefit B. the distribution is inequitable C. economic growth is low D. unemployment is high...

All of the following shift the supply of watches to the right except ?

A. an advance in the technology used to manufacture watches B. an increase in the price of watches C. All of these answers cause an increase in the supply of watches D. a decrease in the wage of workers employed to manufacture watches...

If the price in a market is fixed by the government above equilibrium ?

A. There is excess equilibrium B. There is excess supply C. There is excess demand D. There is equilibrium...