A price ceiling below the market clearing price results inI.excess quantity demandII.excess quantity suppliedIII.entry of new producers
A. I only
B. II only
C. III only
D. Both I and III
Answer: A
Economics
You might also like to view...
A decision by Congress to reduce spending in order to balance the government's budget is an example of ________ policy.
A. structural B. aggregation C. fiscal D. monetary
Economics
Refer to the above figure. Line ABCD is a(n)
A) discretionary-policy curve. B) Phillips curve. C) natural rate of unemployment curve. D) aggregate demand curve.
Economics
Refer to the above figure. Which panel is consistent with the Fed selling bonds?
A) Panel A B) Panel B C) Panel C D) Panel D
Economics
Games can be judged according to the payoffs
A) as zero-sum, negative-sum, and positive-sum games. B) as collusive or noncollusive games. C) as competitive or noncompetitive games. D) whether all companies participate or not.
Economics