A binding price ceiling is:
a. set with the aim of increasing the consumer surplus.
b. set at the equilibrium price level
c. set below the equilibrium price level.
d. set above the equilibrium price level.
c
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When the value of the dollar increases, the net effect on the economy
A) will be an increase in short-run aggregate supply and a decrease in aggregate demand. B) will be decrease in short-run aggregate supply and an increase in aggregate demand. C) will be an increase in both aggregate demand and aggregate supply. D) will be a decrease in both aggregate demand and aggregate supply.
Economics is the study of decisions made necessary by the problem of unlimited wants and limited means to satisfy them
a. True b. False Indicate whether the statement is true or false
Microeconomics involves the analysis of smaller, less developed economies while macroeconomics is concerned with the analysis of larger developed economies
a. True b. False
Public officials, like voters, often have a lack of incentive to become fully informed about legislative issues.
Answer the following statement true (T) or false (F)