If the government imposes a price ceiling,
a. producers must charge the ceiling price
b. the price offered by producers must be no lower than that ceiling price
c. the price offered by producers must be no higher than that ceiling price
d. producers would be inclined to increase the quantity supplied
e. the market supply curve shifts to the right
C
Economics
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Money that has no intrinsic value and is created by a government decree is called
A) barter money. B) fiat money. C) commodity money. D) asset money.
Economics
If consumers' incomes increase and the demand for bus rides decreases
A) bus rides are a normal good. B) consumers are behaving irrationally. C) bus rides are an inferior good. D) none of the above.
Economics