Refer to the figure above. Which of the following is likely to happen if a price control of $80 is imposed in the market?
A) There will be a surplus of 25 units in the market.
B) There will be a shortage of 25 units in the market.
C) There will be a surplus of 10 units in the market.
D) There will be a shortage of 10 units in the market.
A
You might also like to view...
Policy independence for the Federal Reserve is logically similar to allowing the ________
A) National Oceanographic and Atmospheric Administration to select the nation's weather B) Congressional Budget Office to estimate the government's expenditures C) individual states to set highway speed limits D) Social Security Administration to determine benefit levels and eligibility requirements
What are the conditions necessary to produce neither an “under allocation” nor “over allocation” of resources?
Please provide the best answer for the statement.
Economic activities primarily directed toward creating or developing new ideas and new technology are called
A. technological diffusion. B. the information revolution. C. innovative activities. D. technological competition.
The argument that a Balanced Budget Amendment would be "pro-cyclical" means that it would cause
A. good times to be worse than they would otherwise be. B. bad times to be better and good times to be worse than they would otherwise be. C. bad times to be better than they would otherwise be. D. bad times to be worse than they would otherwise be.