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True or False: A shortage occurs if the market price of a good is below the...

True or False: A shortage occurs if the market price of a good is below the market equilibrium price.

True or False: The income elasticity of demand for Coles Instant Coffee is most likely negative.

True or False: Because a monopolist is a price maker they can control both the market price and market quantity.

True or False: The investment (I) component of gross domestic product (GDP) includes the investment of purchasing Telstra shares in the stock market.

True or False: Lower tax rates and lower interest rates are both examples of expansionary economic policy.

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Answer #1

True

When the market price of a good is below the equilibrium price, it leads to an excess of demand over supply.

True

Instant coffee is a inferior good, and as income increases the demand for instance coffee decreases.

True

As they can control the price, that intrun leads to how much they are willing to sell.

False

Any purchases of a security in the secondary market is not considered in the part of investment.

True

Both are Expansionary fiscal policy.

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