ECONTuteNotes122.pdf - 386 Award 1.00 point If the...

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386. Award: 1.00 point 387. Award: 1.00 point If the newspapers report that there is a shortage of strawberries, it must mean that the current price of strawberries is below the equilibrium price. True False References True / False Difficulty: 02 Medium Learning Objective: 03-04 Relate how supply and demand interact to determine market equilibrium. If there is a surplus in a market, competition among the sellers will drive price down. True False References True / False Difficulty: 02 Medium Learning Objective: 03-04 Relate how supply and demand interact to determine market equilibrium.
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388. Award: 1.00 point 389. Award: 1.00 point If we observe that the price of gold is rising and the quantity of gold traded in the market is falling,
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