In 2011, Standard & Poor's (S&P) changed its rating on U.S. Treasury bonds from ________ based on the state of the federal government's budget deficit.
A) A to D B) AAA to AA+ C) A+ to B+ D) A to AAA
Question 2
Refer to Figure 3-6. The figure above represents the market for coffee grinders. Compare the conditions in the market when the price is 15 and when the price is 21. Which of the following describes how the market differs at these prices?
A) At each price the demand for coffee grinders exceeds the supply of coffee grinders.
B) At each price there is a shortage; firms will raise the equilibrium price in order to eliminate the shortage.
C) At each price there is a shortage; the shortage is greater at 15 than at 21.
D) The difference between quantity supplied and quantity demanded is greater at 21 than at 15.
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