1. (3pts) Which of the following is true when FR=$8?
2. Supply and demand are in exact balance
3. Too many ships, not enough cargo
4. Too much cargo, not enough available ships
5. There is an equilibrium in the shipping market

1. (3pts) Which of the following is true when FR=$8?
2. We are in the trough stage of the shipping cycle
3. We are in the recovery stage of the shipping cycle
4. We are in the peak stage of the shipping cycle
5. We are in the collapse stage of the shipping cycle

1. (3pts) What factor could have led to a situation where the FR is above an equilibrium level?

1. (3pts) Which of the following is true when FR=$4?
2. Supply and demand are in exact balance
3. Too many ships, not enough cargo
4. Too much cargo, not enough available ships
5. There is an equilibrium in the shipping market

1. (3pts) Which of the following is true when FR=$4?
2. We are in the trough stage of the shipping cycle
3. We are in the recovery stage of the shipping cycle
4. We are in the peak stage of the shipping cycle
5. We are in the collapse stage of the shipping cycle