What would happen in the market for bread if its demand increased but the price was NOT allowed to change?
A) There would be a surplus of bread.
B) There would be a shortage of bread.
C) The supply of bread would increase.
D) The supply of bread would decrease.
B
You might also like to view...
The likely result of an economy operating at full employment is:
a. cost-push inflation. b. demand-pull inflation. c. a lower rate of growth. d. hyperinflation.
As the ________ becomes larger, the distance between the line of absolute equality and the ________ becomes greater.
A. Gini coefficient; Lorenz curve B. Gini coefficient; production possibilities curve C. Income distribution size; Lorenz curve D. Lorenz curve; Gini curve
Refer to Figure 5.1. In which graph does a shift from BL1 to BL2 represent an increase in the consumer's income?
A. A
B. B
C. C
D. D
In Figure 24.2, total cost at the profit-maximizing rate of output is
A. $18.80. B. $22.00. C. $25.60. D. $16.00.