If a government imposed price ceiling legally sets the price of beef below market equilibrium, which of the following will most likely happen?

a. The quantity of beef demanded will decrease.
b. The quantity of beef supplied will increase.
c. There will be a surplus of beef.
d. There will be a shortage of beef.


D

Economics

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In the long run, a country will experience an increasing standard of living only if it experiences

A) a high rate of consumption. B) a slow rate of population growth. C) continuous technological change. D) a high rate of labor force growth.

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Economics

Ultimately, the source of growth in real wages is the growth in labor productivity

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

Economics