If the equilibrium price of good X is $4 and a price ceiling is imposed at $5, the result will be a(n):
a. depletion of inventories. b. shortage.
c. surplus. d. equilibrium.
d
You might also like to view...
Analyze the following statement "the global financial crisis of 2008-2009 was a great illustration of how interdependent national economies are."
What will be an ideal response?
In the wake of the failure of __________ in 1984, the FDIC announced the "too big to fail" policy
A) Mariners' Trust of Detroit B) Manufacturers Hanover Bank C) Silverado Savings-and-Loan D) Continental Illinois Bank
Tractors, shovels, copy machines and computer programming expertise are all examples of scarce resources
a. True b. False Indicate whether the statement is true or false
If the U.S. dollar depreciates, then U.S. exports become ____ expensive to foreigners and foreign goods become ____ expensive to U.S. citizens
a. less; less b. less; more c. more; less d. more; more