Consider the supply and demand curves depicted in the diagram below. If the government imposed a price ceiling of $15, then sellers will be willing to sell ___, and a black market could develop where the price would be:

According to the "rational expectations" school of thought in macroeconomics, the short-run Phillips curve is ________ in face of unanticipated changes in monetary policy

A) negatively sloped B) vertical C) positively sloped D) horizontal

If the price of an ounce of gold is 200 ZARs in South Africa and $75 in Canada, what will be the South African Rand (ZAR) per Canadian dollar (C$) exchange rate?

a. C$1 = 4.25 ZAR b. C$1 = 1.75 ZAR c. C$1 = 2 ZAR d. C$1 = 2.67 ZAR e. C$1 = 4 ZAR