The imposition of a binding price ceiling on a market causes quantity demanded to be
a. greater than quantity supplied.
b. less than quantity supplied
c. equal to quantity supplied.
d. Both (a) and (b) are possible.
a
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If US consumers want to buy Chinese goods, they will
a. Buy Yuan and sell US Dollars b. Sell Yuan and buy US Dollars c. Neither buy nor sell Yuan d. Neither buy nor sell dollars
Firms can be governed like democracies are governed
Indicate whether the statement is true or false
Refer to Figure 8.11. If Fred's profit in the second rectangle from the top were 1,600 instead of 1,500 then the path of the game would be:
A. Fred chooses a small quantity and Barney enters. B. Fred chooses a large quantity and Barney stays out. C. Fred chooses a large quantity and Barney enters. D. Fred chooses a small quantity and Barney stays out.
Indirect business taxes include all of the following EXCEPT
A. taxes on business equipment. B. sales taxes. C. taxes on corporate profits. D. taxes on business property.