Refer to the above figure. If a price ceiling of $3 was set
A. there would be a shortage of 20 units.
B. the quantity sold would be 80 units.
C. there would be a surplus of 40 units.
D. there would be a shortage of 40 units.
Answer: A
Economics
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If a French company exports $2 million of machinery to Italy and French tourists spend $2 million at Italian beaches, the Italian current account balance ________, and the Italian financial account balance ________
A) rises; rises B) rises; is unchanged C) is unchanged; is unchanged D) is unchanged; rises
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Which of the following is the most likely to be a fixed factor of production at a farm?
A. The number of workers hired to harvest the crops B. The amount of water used each day C. The land on which the farm is located D. The amount of fertilizer used each week
Economics