If the government imposed a price ceiling on gasoline above this good's current market clearing price, there would be
A) a shortage of gasoline. at the ceiling price.
B) a surplus of gasoline at the ceiling price.
C) an increase in the price of gasoline.
D) no change in the price of gasoline.
D
You might also like to view...
A monopolist maximizes revenue at
a. At MR= MC b. At MR>MC c. At P=MR d. At MR=0
Which of these faulty economic policies was adopted by President Hoover during the Great Depression?
a. An increase in tax rate b. An increase in trade barriers c. A decrease in tax rate d. A decrease in government spending e. An increase in government spending
The demand for euros would come from
a. American exports to Europe. b. European demand for U.S. government bonds. c. American demand for European real estate. d. All of the above are correct.
The institution ultimately responsible for managing the nation's money supply and coordinating the banking system to ensure a sound economy is called a:
A. peoples' bank. B. central bank. C. national bank. D. public banking system.