In Figure 10-5 above, suppose that the population growth rate declines. This causes a movement of the steady-state point such as from points

Refer to Figure 3-5. In a free market such as that depicted above, a shortage is eliminated by

A) a price decrease, decreasing the supply and increasing the demand. B) a price increase, increasing the quantity supplied and decreasing the quantity demanded. C) a price increase, increasing the supply and decreasing the demand. D) a price decrease, decreasing the quantity supplied and increasing the quantity demanded.

A minimum wage is an example of a

A) price floor. B) price ceiling. C) quantity quota. D) free market equilibrium.