Creating conditions for fair trade by limiting imports will make the domestic consumers better off, as they will be required to pay low prices for the products

If autonomous investment spending falls as a result of a decline in the expected rate of return on investment, GDP would not have to fall if the government __________ taxes or __________ government spending

A) increased; increased B) increased; decreased C) decreased; increased D) decreased; decreased

The excess demand created when the government imposes a price ceiling

a. shifts the equilibrium price upward to the price ceiling level b. is the difference between the quantity demanded at the old equilibrium price and quantity supplied at the price set by the price ceiling c. is the difference between the quantity demanded at the price set by the price ceiling and quantity supplied at the old equilibrium price d. is the difference between the quantity demanded at the price set by the price ceiling and quantity supplied at the price set by the price ceiling e. is the difference between the old equilibrium price and the price set by the price ceiling