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Author Question: We can experience a shortage of any good or service if A) the price of using it is too high. B) ... (Read 60 times)

Mimi

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on: Jun 29, 2018
We can experience a shortage of any good or service if
 
  A) the price of using it is too high.
  B) the price of using it is too low.
  C) people demand more than they need.
  D) if people need more than they demand.

Question 2

This year Gus purchased a used 1972 vehicle from Wee-Rob-U Auto Sales. The dealer paid 500 for it yesterday, and sold it to Gus for 3500. In principle, what happens to GDP?
 
  A) Nothing, because the vehicle was already accounted for in 1972.
  B) Nothing, because Gus was ripped off.
  C) It increases by 3000.
  D) It increases by 3,500.
  E) It increases by 6,500.


bblaney

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


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