When quantity demanded exceeds quantity supplied at the current market price, the market has a shortage, and market price will likely rise in the future to eliminate the shortage. a. true b. false?

Congressman patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. discuss the position of the congressman, giving consideration to tax rate structures (e. g., progressive, proportional, and regressive) and the concept of equity.