If the government required the actual market price to be fixed at $6 per unit in,
Shifts of Supply and Demand
A. A binding or effective price ceiling would result.
B. A nonbinding or noneffective price ceiling would result.
C. A binding or effective price floor would result.
D. The market would reach equilibrium.
Answer: A
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An effective government imposed price ceiling will result
A) in a surplus on the market. B) in a shortage on the market. C) in additional revenue for the government. D) in prices for the product falling in the future.
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a. savings divided by the change in saving. b. savings divided by the change in disposable personal income. c. saving divided by the change in GDP. d. None of these.
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