A price ceiling:
a. keeps the price from falling below a certain level.
b. is always higher than the equilibrium price
c. is always lower than the equilibrium price.
d. keeps the price from rising above a certain level.
d
You might also like to view...
The best example of a cyclically unemployed individual is
A) Charles who lost his job as a real estate salesperson when the housing market went soft because of a recession. B) Alice who quit her job to enter college. C) Mary who lost her job in the textile industry following a decrease in the tariff on textiles. D) Bob who has just graduated from college and is entering the labor market.
An indirect or inverse relationship between price and quantity demanded is
A) the market clearing price. B) a change in demand. C) a supply curve. D) a demand curve.
If opening up international trade resulted in the U.S. importing ballpoint pens, what would tend to happen to the U.S. price of ballpoint pens? a. The domestic price will fall
b. The domestic price will rise. c. The domestic price will remain constant. d. It is impossible to predict the impact.
A business structure in which every partner is liable only for his or her own activities and at least partially liable for the partnership as a whole is known as a? __________.
A. general partnership B. corporation C. limited liability partnership D. sole proprietorship E. master limited partnership