Sia
Question
Macroeconomics
Posted 10 months ago
Which of the following terms describes a situation in which there is an excess quantity supplied in a market?
Choose 1 answer:
(A) Surplus
(B) Equilibrium
(c) Efficiency
(D) Shortage
(E) Excess demand
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Answer from Sia
Posted 10 months ago
A
Key Concept
Surplus
Explanation
A surplus occurs when the quantity supplied exceeds the quantity demanded at a given price; it's the result of prices being set above the equilibrium price.
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