If the government imposes a maximum price that is above the equilibrium price,
A. quantity demanded will be less than quantity supplied.
B. demand will be greater than supply.
C. this maximum price will have no economic impact.
D. the available supply will have to be rationed with a non-price rationing mechanism.
C. this maximum price will have no economic impact.
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Hector voluntarily left his job to search for a job in accounting, the field in which he has his bachelor's degree. Hector is considered
A) frictionally unemployed. B) not to be unemployed. C) structurally unemployed. D) cyclically unemployed.
A local electricity-generating company has a monopoly that is protected by an entry barrier that takes the form of
A) a perfectly inelastic demand curve. B) economies of scale. C) control of a key raw material. D) network externalities.
Congress and the President allow people to make greater contributions to tax-deferred savings accounts. Which curve in the market for loanable funds would shift, which direction would it shift, what would happen to the interest rate, and what would happen to investment spending?
Given their skills and education, American workers in hostile regions such as Iraq earn higher incomes than American workers in the homeland. This is partly because:
A. American workers in Iraq face a higher risk of getting kidnapped and killed. B. jobs in Iraq in general require more education. C. the U.S. government restricts the number of American workers to work in Iraq. D. only a few people have the skills necessary for jobs in Iraq.