If the price of sandals is fixed by law below the market-clearing price,
A) a surplus of sandals will result.
B) sandal inventories at shoe stores will be smaller.
C) sandal sellers will spend more on advertising.
D) the quantity of sandals demanded will be greater than the quantity supplied.
E) the quantity of sandals demanded will be less than the quantity supplied.
B
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Which of the following exist(s) in a command economy but not in a market economy?
a. Property rights for individuals b. Land, labor, capital, and entrepreneurship c. Plenty of incentives to motivates firms to produce what consumers need d. An absence of long lines of customers at shops e. A central authority making production and consumption decisions
In the early antebellum period, New England women's wages were about 1/3 of men's wages. By 1860, New England women's wages were
a. about ¼ of men's wages. b. about ½ of men's wages. c. more than men's wages. d. about equal to men's wages.