Figure 4-22



Refer to . The equilibrium price in the market before the tax is imposed is

a.

$1.00.

b.

$3.50.

c.

$5.00.

d.

$6.00.

c

Economics

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The price ceiling causes a

A. shortage of 45 units. B. surplus of 85 units. C. shortage of 85 units. D. surplus of 40 units.

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Labor productivity is $30 per hour and aggregate hours are 165 billion hours. What does real GDP equal?

What will be an ideal response?

Economics