A price ceiling that is set above the equilibrium price:
A. will lead to excess supply in the market.
B. will lead to a black market.
C. will lead to excess demand in the market.
D. will have no effect on the market.
Answer: D
You might also like to view...
A decrease in the value of a currency in terms of other currencies is known as
A) an appreciation. B) a depreciation. C) a par value. D) a gold point.
Financial intermediation supports economic growth and development by bringing together numerous savers and investors in growing and increasingly complex markets
Indicate whether the statement is true or false
Global warming is an externality
Indicate whether the statement is true or false
Economic freedom refers to the freedom of the government to control resources and labor in a country
a. True b. False Indicate whether the statement is true or false