Adriana wants to try working as an independent contractor this summer. She has a 50 percent chance that she will make $9,000 and 50 percent chance that she will make nothing. Her utility of wealth curve is shown in the figure above

Suppose a price ceiling is set by the government below the market equilibrium price. Which of the following will result?

a. The demand curve will shift to the left. b. The quantity demanded will exceed the quantity supplied. c. The quantity supplied will exceed the quantity demanded. d. There will be a surplus.

For a low-income country to develop into a high-income country, ____ is (are) needed

a. a sustained and rapid expansion in the money supply b. sustained economic growth c. tax breaks on consumption goods d. deflation