A price floor set above the equilibrium price will
A) clear the market for the good.
B) result in a shortage of the good.
C) result in a surplus of the good.
D) force some firms in this industry to go out of business.
C
Economics
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Refer to Figure 2-2. If Mendonca chooses to produce 160 pounds of vegetables, how much meat can it produce to maximize production?
A) 0 pounds of meat B) 30 pounds of meat C) 60 pounds of meat D) 120 pounds of meat
Economics
An exogenous rise in government expenditures will have the same effect on GDP as an equal rise in either autonomous ________ or autonomous ________
A) consumption; investment B) taxes; consumption C) savings; investment D) taxes; investment
Economics