When a freely functioning market is in disequilibrium:

a. the government must set a price ceiling.
b. the government must set a price floor.
c. the price and quantities demanded and/or supplied change until equilibrium is established.
d. it will continue to remain in disequilibrium.
e. it will reach equilibrium at a very high/low price.


c

Economics

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For the average homeowner, which of the following tasks is most likely to be contracted for?

a. fixing a shelf b. hanging a painting c. moving furniture d. rewiring the kitchen lighting e. repainting a bedroom

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Under a floating exchange-rate system, a country needs to pay more attention to the economic policies of the rest of the world

a. True b. False Indicate whether the statement is true or false

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Due to various circumstances, several large firms have most of the sales in an industry. Which term describes this situation?

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Economics