Answer: Plessy v. Ferguson was a landmark 1896 U.S. Supreme Court decision that upheld the constitutionality of racial segregation under the “separate but equal” doctrine. ... As a result, restrictive Jim Crow legislation and separate public accommodations based on race became commonplace.
Explanation:
It will be b..............
The term that references a period of economic growth as measured by a rise in GDP is an economic expansion. It is the increase in economic activity.
John Stuart mill believed in checks and balances
The intersection between the supply curve (an upward sloping function) and the demand curve (a downwardsloping function) determines the equilibrium point of a market. The equilibrium is the point which represents the exact market price and quantity demanded/supplied at which the wishes of consumers and suppliers meet.
<u>When the market is not in the equilibrium point</u>, two different situations could be happening:
- Excess demand: this is a situation in which the market price is located below the equilibrium price. The quantity demanded at that market price would exceed the amount that the producers are willing to produce and supply at that same price. Therefore, not all consumers are able to obtain the product they desire and there is rationing.
- Excess supply: at a certain price located above the equilibrium, the quantity that suppliers are willing to produce exceeds the amount demanded by consumers at that more expensive price. Therefore, suppliers would not be able to sell their whole production in the market.
