An illegal market in which the price exceeds a legally imposed price ceiling is called a
A) shortage market.
B) surplus market.
C) black market.
D) fair market.
E) subsidized market.
C
You might also like to view...
Which of the following statements is true?
A) There always exists some amount of unemployment in an economy. B) The unemployment in an economy normally increases at times of expansion and decreases at times of contraction. C) In almost every economy, each job opening is instantly filled by a qualified worker. D) The unemployment rate in an economy is constant over the long run.
The figure above shows a tax imposed on a good with an external cost. The area of the rectangle abcd equals
A) the MSB. B) the total tax revenue collected by the government. C) the amount of pollution tax per ton. D) the MC. E) the deadweight loss.
Figure 11-1
?
In Figure 11-1, what can be concluded about the economy if production moves from Point D to Point A?
A. An improvement of calculator technology B. An increase in resources for producing other goods C. A reduction in the need for calculators in the economy D. A more equal distribution of resources in the economy
When economists disagree, it is often over what type of issues?