--%>

Shortage of the good

Describe when there will be a shortage of the good?

E

Expert

Verified

When the real price is lower than the equilibrium price, then there will be a shortage of the good.

   Related Questions in Macroeconomics

  • Q : Nations wealth Adam Smith disputed that

    Adam Smith disputed that a nation’s wealth is, not the gold it possesses, but instead its: (1) Total population. (2) Capability to offer goods for its people. (3) Domestic financial capital. (4) Foreign investments. (5) Military might.

  • Q : National income Gross domestic capital

    Gross domestic capital formation is always greater than gross fixed capital formation

  • Q : Total revenue when price modify When

    When total revenue to a firm is unaffected by small price modifications, then demand is: (i) Relatively price elastic. (ii) Relatively price inelastic. (iii) Unitarily price elastic. (iv) Vertical. (v) Horizontal. Can someone help

  • Q : National income how to calculate

    how to calculate national income under value added method

  • Q : EQUILIBRIUM GDP WHAT IS THE CHANGE IN

    WHAT IS THE CHANGE IN EQUILIBRIUM gdp CAUSED BY THE ADDITION OF NET EXPORTS?

  • Q : Open-Economy Macroeconomics

    Open-Economy Macroeconomics   Suppose the structure of an economy with a flexible exchange rates is represented by:   C = 200 + 0.85*(Y - T)             &n

  • Q : Assignment for help Help me with this

    Help me with this assignment! Just 25 questions! Thank you so much!

  • Q : Demand according to range of adjustments

    As longer time periods are taken and a bigger range of adjustments (or substitutions) become obtainable, then demand curves tend to become: (1) flatter, as supply curves become steeper. (2) Steeper as supply curves become flatter. (3) Flatter, and therefore do supply

  • Q : Aggregate Expenditure model Describe

    Describe Aggregate Expenditure model and also state AD/AS model?

  • Q : Concept of deflationary gap Elucidate

    Elucidate the concept of deflationary gap. Answer: Deflationary gap is the deficit in aggregate demand from the level needed to maintain full employment equilibrium