A price ceiling set below the equilibrium price causes a shortage in the market
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Consider the market for land. Suppose the value of the marginal product of land decreases. Holding all else constant, the equilibrium rental price for land will
a. increase. b. decrease. c. not change. d. It is not possible to determine what will happen to the equilibrium rental rate.
Economics
Exchange rates that are allowed to fluctuate in response to changes in supply and demand is known as
A. fixed exchange rates. B. standard drawing rights. C. the foreign exchange markets. D. flexible exchange rates.
Economics