An effective ceiling price will:
A. induce new firms to enter the industry.
B. result in a product surplus.
C. result in a product shortage.
D. clear the market.
Answer: C
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In 1977, he pioneered the concept of selling new public issues of junk bonds for companies that had not yet achieved investment-grade status
A) Michael Milken B) Roger Milliken C) Ivan Boesky D) Carl Icahn
If it is discovered that using drugs enhances a person's chance of contracting a lethal disease, the cost of using drugs
A) increases. B) decreases. C) is not affected. D) is irrelevant, since they are illegal anyway.
A situation where quantity demanded exceeds quantity supplied is called a(n) ______.
a. substitution b. equilibrium c. shortage d. surplus
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.