A black market may occur when
A) the government imposes a price floor below the market clearing price.
B) the government imposes a price ceiling below the market clearing price.
C) the government imposes a price ceiling above the market clearing price.
D) the government does not impose either a price ceiling or a price floor.
B
You might also like to view...
Alex, Bill, and Cid live in Souland. Their annual incomes and the amounts they pay in income tax are shown in the table below. Income Tax Alex 30,000 6,000 Bill 20,000 4,000 Cid 40,000 8,000 The income tax in Souland is
A) proportional. B) disproportional. C) regressive. D) progressive.
When the government enacts policies that lead to lower mortgage lending standards and lower interest rates, their actions can indirectly lead to higher home prices
Indicate whether the statement is true or false