Which of the following is NOT a predictable result of a price ceiling set below the market clearing price?

A) an illegal market in the good
B) excess quantity supplied
C) excess quantity demanded
D) lines to purchase the product


Answer: B

Economics

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Government takeover of a foreign corporation is called

a. joint venture b. expropriation c. imperialism d. nationalization e. all of the above

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Countries with more economic freedom during 1980-2009 tended to do which of the following?

What will be an ideal response?

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According to most economists, the development of markets is:

A. both a necessary and a sufficient condition for development. B. a sufficient condition for development but not a necessary condition. C. a necessary condition for development but not a sufficient condition. D. neither a necessary nor a sufficient condition for development.

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Demand for movie rentals is highly elastic. A video store that raises the price of a rental will:

a) lose revenue b) gain revenue c) possibly gain or lose revenue d) see no change in revenue

Economics