The major drawback of a price ceiling is
a. it causes a surplus.
b. government regulations of this kind are difficult to enforce.
c. it causes a shortage.
d. There is no drawback.
c
Economics
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When we use the specificfactors model to study immigration, we assume that:
a. land is immobile internationally but capital and labor are internationally mobile. b. land and capital are immobile internationally but labor is internationally mobile. c. land, labor, and capital are internationally mobile. d. land, labor, and capital are internationally immobile.
Economics
As Rainclouds Inc moves downward along its production possibilities frontier, illustrated in the figure above, the opportunity cost of a raincoat ________
A) decreases B) depends on the initial quantity produced C) increases D) remains the same
Economics