1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dmitrij [34]
3 years ago
11

If the price level is above the equilibrium price level, how does the aggregate quantity of goods and services demanded compare

to the aggregate quantity of goods and services supplied at the price level?
Business
1 answer:
kupik [55]3 years ago
4 0

Answer:

When price is  above the equilibrium price level, quantity demanded would be less than the quantity supplied. This would lead to a surplus

Explanation:

Equilibrium price is the price at which quantity demand equal quantity supplied.

Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded. As a result of the surplus, price would fall until equilibrium is reached.

Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied. As a result of the shortage, price would rise until equilibrium is reached.

You might be interested in
What two conditions must hold for a competitive market to produce efficient outcomes? Group of answer choices Firms must maximiz
faltersainse [42]

Answer:

The answer is: Supply curves must reflect all costs of production, and demand curves must reflect consumers´ full willingness to pay.

Explanation:

The characteristics of a competitive market are:

  • Many buyers and sellers
  • Companies make a similar product.
  • Both buyers and sellers have access to perfect information about price.
  • No transaction costs.
  • No barriers to entry into or exit from the market.

Theoretically if all of the above conditions occur, profit maximizing companies will combine with utility maximizing consumers, and markets will tend to produce efficient outcomes.

6 0
3 years ago
On January 1, 2021, Blair Company sold $800,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December
Anika [276]

Answer:

$42,480

Explanation:

Given that,

Value of bonds = $800,000

Interest rate = 10%

Selling price of bond (Book value) = $708,000

Priced to yield = 12%

The semi-annual yield is calculated as follows:

= 12% / 2 (because the interest is payable semiannually on June 30 and December 31)

= 6%

Therefore, the semi-annual bond interest expense:

= Selling price of bond × semi-annual yield

= $708,000 × 6%

= $42,480

Hence, the Blair should report bond interest expense for the six months ended June 30, 2021 in the amount of $42,480.

But the actual cash paid for the interest expense will be:

= (Value of bonds × Interest rate on bonds)

= [$800,000 × (10%/2)]

= $800,000 × 5%

= $40,000

So, the amortization for bond discount is the difference between actual cash paid and bond interest expense:

= $42,480 - $40,000

= $2,480

7 0
3 years ago
Having the skill to coordinate different people and different tasks to work towards one goal is necessary for which of the follo
san4es73 [151]

Answer:

C. Manager

Explanation:

The job of a manager is to organize all the units in the business for proper functioning

4 0
2 years ago
When you should send an email
Greeley [361]

B. When the subject matter is objective and informative

8 0
3 years ago
Read 2 more answers
In the recent past, the government has attempted to stimulate the economy by sending tax refunds to individual people so that th
blondinia [14]

Answer:

The correct answer to the following question will be "Consumption".

Explanation:

Investments, welfare spending, consumer spending are essential elements of GDP. That tells them what a nation is doing well. For every year, GDP is the world's total economic production.

Expenditure on resources consumption includes:

  • Durable goods (Furniture, cars, etc).
  • Non-durable goods (Oils. clothing, etc).
  • Services (Education, health, etc).

Therefore, it's the right answer.

3 0
3 years ago
Other questions:
  • Tyler and Camille both live in Oklahoma. A new-car dealer in Oklahoma bought a new car from the manufacturer for $17,000 and sol
    10·1 answer
  • Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 91,000 shares of $5 par common stock. Dur
    5·1 answer
  • Adamis the owner/operator of a flower shop. Last year he earned $250,000 in total revenue. His explicit costs were $175,000 paid
    6·1 answer
  • The permanent school fund is managed primarily by what entity?
    13·1 answer
  • If congress increases the minimum wage to $7.25 per hour, what happens to the demand for consumer goods as a result?
    15·2 answers
  • Division of labor refers to:
    6·1 answer
  • Employees working in the petroleum industry in Alaska might be receiving higher wages based on the fact that their careers requi
    9·2 answers
  • Greg n. mankiw principles of macroeconomics 5th:
    8·1 answer
  • The level of investment in markets often indicates the stability of the government. the state of the economy. the success of ind
    10·2 answers
  • What organization issues management marketing and technical publications
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!