The antitrust legislation that was designed to help small stores survive competition with large retail chains was the

Which of the following statements is not correct?

A. A price ceiling set at $9 would result in a surplus. B.A price floor set at $14 would be binding, but a price floor set at $8 would not be binding. C.A price ceiling set at $8 would be binding, but a price ceiling set at $12 would not be binding. D. A price floor set at $11 would result in a surplus.

A recessionary gap occurs when

A) aggregate demand falls, but other things remain constant. B) the short-run equilibrium level of real GDP is less than the level consistent with the long-run aggregate supply curve. C) the short-run equilibrium level of real GDP is greater than the level consistent with the long-run aggregate supply curve. D) short-run aggregate supply falls, but other things remain constant.