When a binding price ceiling is imposed on a market,
a. price no longer serves as a rationing device
b. the quantity supplied at the price ceiling exceeds the quantity that would have been supplied without the price ceiling.
c. all potential buyers benefit.
d. All of the above are correct.
a
Economics
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The circular flow is used to make the point that
A) unemployment only occurs during a recession. B) production generates income. C) rising prices never occur during times of unemployment. D) households purchase factors of production from firms.
Economics
Everything else constant, a stronger dollar will mean that
A) vacationing in England becomes more expensive. B) vacationing in England becomes less expensive. C) French cheese becomes more expensive. D) Japanese cars become more expensive.
Economics