In the above figure, a price ceiling of $4 would
A) result in a shortage in the long run.
B) result in a surplus in the long run.
C) have no effect.
D) result in a surplus in the short run but have no effect in the long run.
C
Economics
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When the purchasing power of money declines:
a. the demand for money increases and interest rates fall. b. the supply of bonds increases and interest rates fall. c. the demand for money increases and interest rates rise. d. the supply of bonds decreases and interest rates rise. e. the demand for money decreases and interest rates rise.
Economics
The inflation rate in the United States has always been positive
a. True b. False
Economics