The imposition of a binding price ceiling on a market causes
a. quantity demanded to be greater than quantity supplied.
b. quantity demanded to be less than quantity supplied.
c. quantity demanded to be equal to quantity supplied.
d. the price of the good to be greater than its equilibrium price.
a
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What is the economic reasoning behind the proposal to legalize drugs?
A. Legal drugs will greatly increase the supply, which will reduce the price Americans pay to foreign producers of the drugs. B. All forms of government restrictions on behavior are immoral and ought to be removed. C. Legal drugs will be much cheaper than illegal drugs, which will reduce incentive for crime to obtain money for drugs and to protect drug “businesses.” D. Legal drugs will be more expensive than illegal drugs, and the market system will encourage more production, thus lowering the price. E. Dealing with supply is always easier than dealing with demand, and legalization accomplishes that.
The real exchange rate is equal to the ________
A) nominal rate of exchange plus the domestic level of prices B) the nominal exchange rate minus the relevant foreign price level C) nominal exchange rate divided by the domestic plus foreign price levels D) nominal exchange rate times the domestic price level divided by the foreign price level
Do you think the General Agreement on Tariffs and Trade (GATT) rulings on the U.S. efforts to reduce the number of dolphin mortalities and the World Trade Organization (WTO) rulings on U.S. insistence that foreign shrimpers use turtle excluder devices to protect sea turtles were justified? In your answer be sure to explain the rulings and the reasons behind these rulings. How might the United States have pursued its objectives so that it did not violate GATT and WTO rules?
What will be an ideal response?
What is the difference between a firm's assets and its liabilities?
What will be an ideal response?