A surplus exists in a market if a. there is an excess demand for ...

[corkyiscool3328]

A surplus exists in a market if
 a. there is an excess demand for the good.
 b. quantity demanded exceeds quantity supplied.
  c. the current price is above its equilibrium price.
  d. All of the above are correct.

Question 2

If government spending increased by 50 billion and the MPC within the economy was 0.8, what would be the total impact on real GDP?
 a. 62.5 billion decrease
  b. 62.5 billion increase
  c. 250 billion decrease
  d. 250 billion increase

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Answer to Question 1

c

Answer to Question 2

d

[corkyiscool3328]

Great answer, keep it coming

[rachel]

Thanks for the timely response, appreciate it