Price ceilings often generate
A. black markets.
B. market clearing prices.
C. equilibriums that utilize rationing by price.
D. rapid increases in supply to meet the excess demand.
Answer: A
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Any item can successfully serve as money
a. True b. False Indicate whether the statement is true or false
The De Beers Diamond company advertises heavily to promote the sale of all diamonds, not just its own. This is evidence that it has a monopoly position to some degree
a. True b. False Indicate whether the statement is true or false
A US commercial bank can lend 100% of its total reserves
a. true b. false