A price ceiling that is set above the equilibrium price:
A. will have no effect on the market.
B. will lead to excess supply in the market.
C. will lead to excess demand in the market.
D. will lead to a black market.
Answer: A
Economics
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If the real exchange rate between the United States and Japan is ________, then it is cheaper to buy goods in Japan than in the United States
A) greater than 1.0 B) greater than 0.5 C) less than 0.5 D) less than 1.0
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Education's benefit to society is an example of an externality.
Answer the following statement true (T) or false (F)
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