The above figure shows the market for apples. If a consumer group convinces the government to set a maximum price of $2 per pound, then
A) 300 pounds of apples will be sold at $2.
B) no apples will be supplied.
C) no apples will be demanded.
D) there will be a shortage of 100 pounds of apples.
B
You might also like to view...
The Fed buys $100 million of government securities from Bank A. What is the effect on the Federal Reserve's balance sheet?
A) Securities increase by $100 million and Federal Reserve notes (currency) decrease by $100 million. B) Securities increase by $100 million and reserves of Bank A increase by $100 million. C) Securities increase by $100 million and reserves of Bank A decrease by $100 million. D) Securities decrease by $100 million and reserves of Bank A increase by $100 million.
According to new growth theory, firms accumulate the efficient level of both physical and knowledge capital
Indicate whether the statement is true or false
Capital controls:
A. can be controls on capital inflows. B. can only be controls on capital outflows. C. must be controls on both capital inflows and outflows in order to be effective. D. can be controls on capital inflows or outflows.
We know how many dollars banks create using the:
A. money multiplier. B. federal funds. C. interest rate. D. demand deposits.