If the government required the actual market price to be fixed at $6 per unit in,Shifts of Supply and Demand

A. The market would reach equilibrium.
B. A nonbinding or noneffective price ceiling would result.
C. A binding or effective price floor would result.
D. A binding or effective price ceiling would result.


Answer: D

Economics

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The idea that because of scarcity, producing more of one good or service means producing less of another good or service refers to the economic concept of

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In comparing the views of economists on stabilization policy in the 1960s with the current views of economists on stabilization policy, one can say

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Economics