Price ceilings will likely
a. result in the accumulation of surpluses.
b. increase the volume of transactions as we move along the demand curve.
c. increase production as producers respond to higher consumer demand at the low ceiling price.
d. result in the development of black markets.
d
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Which of the following achieves the efficient use of a common resource?
a) property rights, individual transferable quotas, and subsidies b) individual transferable quotas and copyrights c) property rights, quotas, and individuals transferable quotas d) property rights, quotas, and subsidies
The savings rate designates:
A) the difference between household consumption and savings. B) the difference between government revenue and government expenditure. C) the rate of return households earn on their savings. D) the fraction of income that households save.