Consider the above table. Assuming the government imposes a price ceiling on garbanzo beans of $4, what would be the likely result?
A) a surplus of 2,000 garbanzo beans
B) a shortage of 2,000 garbanzo beans
C) No change, equilibrium would prevail.
D) The quantity demanded of garbanzo beans would fall to zero.
B
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What is the maximum value of the Lerner index?
A) Infinity B) 100 C) Two D) One
Which of the following is a determinant of investment?
a. Technological change b. Net exports c. Demographics d. Nominal GDP e. Population
Two characteristics that make owning stock attractive are:
A. unlimited liability and first claim on assets. B. each share represents a large percentage of ownership and dividends are fixed C. share prices are relatively inexpensive and are transferable. D. dividends are paid before any other distributions are made and stocks are transferable.
In a laissez-faire economy, ________ what gets produced, how it is produced, and who gets it.
A. firms but not consumers determine B. consumers but not firms determine C. the central government authority determines D. the behavior of buyers and sellers determines