Economy 201 - MACROECONOMICS September 24, 2002. 1- Define supply and demand. Define surplus and shortage. In your opinion, is our market system in an equilibrium condition?. Why or why not?. Are you a consumer being ... ...

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• Grade Level: High School

... growing and that things are getting better. If producers are charging higher prices and consumers are paying these prices then why not charge the higher prices. Bade. Parkin, Foundations of Macroeconomics. Boston. Addison Wesley. p. 368, p. G-4 Schiller, The Economy Today. Ninth Edition. Boston. McGraw-Hill. p.137, p.327, p.138, p. G2 (www.internation.se/toft/stagflation.htm ... ...

• Word Count: 1165
• Approx Pages: 5
• Has Bibliography
• Grade Level: High School