A price floor would be established in cases where the government believed the market equilibrium price would:
a. result in a surplus.
b. be too high.
c. result in a shortage.
d. be too low.
e. yield excess profits.
d
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In a monopoly market, there is (are) ________ seller(s)
A) one B) a few C) many D) very many
Which market adjusts the quickest in response to shocks to the economy?
A) The asset market B) The labor market C) The goods market D) The asset, labor, and goods markets adjust at about the same speed to eliminate a disequilibrium in the macroeconomy.
Gross savings are comprised of _______ savings, _______ savings, and _______ savings.
Fill in the blank(s) with the appropriate word(s).
The government uses the antitrust laws in place:
A. ineffectively because the laws are outdated. B. to prevent all mergers that would create market power. C. increasingly over time, as market power is getting more concentrated. D. to break up and prevent monopoly power in markets.