If a price ceiling is set above the equilibrium price, then
A) there will be a surplus of the good.
B) there will be a shortage of the good.
C) there will be neither a shortage nor a surplus of the good.
D) the price ceiling will generate revenue for the government.
E) the price ceiling affects suppliers but not demanders.
C
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The unemployment rate is interpreted as the percentage of the
A. able-bodied population who are not working. B. labor force that are not employed. C. workforce that have been laid off. D. adult population who are unemployed.
How does a quota affect the domestic price of the import, the domestic consumption, the domestic production, and the quantity imported?
What will be an ideal response?
After Hurricane Sandy, FEMA (the Federal Emergency Management Agency) advertised in a New Jersey radio station how people affected by the hurricane could file for assistance
In the political marketplace, the decision makers in FEMA are best characterized as A) voters. B) firms. C) politicians. D) bureaucrats.
The tax that generates the most revenue for state and local government is the
a. corporate income tax. b. individual income tax. c. property tax. d. sales tax.