Suppose the market-clearing price of milk is $3.00 per gallon, but the dairy industry persuades the government to establish a legally-mandated price support at $4.00 per gallon. The newly legislated price tends to
A) increase the supply of milk.
B) reduce the demand for milk.
C) increase the quantity supplied of milk.
D) increase the quantity demanded of milk.
C
Economics
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In 1941 Henry Luce coined the term ______________________ to describe the magnitude of America's economic and military prowess.
Fill in the blank(s) with the appropriate word(s).
Economics
A period of protracted slow growth and high unemployment is called:
A. stagflation. B. deflation. C. structural stagnation. D. cyclical stagnation.
Economics