Whenever a price ceiling is imposed in a market,
a. quantity demanded exceeds quantity supplied and a surplus results
b. quantity demanded exceeds quantity supplied and a shortage results.
c. quantity supplied exceeds quantity demanded and a surplus results.
d. it is necessary to know whether the ceiling is imposed above or below the equilibrium price in order to determine whether the quantity traded will be affected.
d
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The third monetarist proposition asserts that in the short run,
a. changes in money demand are the dominant factor causing cyclical movements in output and employment. b. money supply is only one of many factors resulting in cyclical movements in output and employment. c. money primarily influences the price level and other nominal magnitudes. d. None of the above
Why is there a difference in the pay received by workers belonging to the same labor market?