EBK ECONOMICS TODAY
18th Edition
ISBN: 8220100663253
Author: Miller
Publisher: PEARSON
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Question
Chapter 11, Problem 2CTQ
To determine
The impact of drought on the
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Suppose the price level falls. The result is that
What is true about equilibrium price level?
a.
There will be some surplus in the economy
b.
There will be some shortages in the economy
c.
There will be either surplus or shortages in the economy
d.
There will be neither surplus nor shortages in the economy
what is the equilibrium price level?
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