Consider the above table. If the government imposes a price ceiling on garbanzo beans of $8, what would be the likely result?
A) a surplus of 2,000 garbanzo beans on the market
B) a shortage of 2,000 garbanzo beans on the market
C) Market equilibrium will be reached.
D) The quantity demanded of garbanzo beans would fall to zero.
C
Economics
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Refer to Table 20.1. George is a single taxpayer with an income of $65,000. If George had received a raise of $3,500 at the beginning of the year, his average tax rate would be
A) 22.99%. B) 23.75%. C) 32.5%. D) 38%.
Economics
In the early stages of macroeconomic model building, the money supply is regarded as a policy ________ that is under ________ control by the Federal Reserve
A) goal, perfect B) goal, imperfect C) instrument, perfect D) instrument, imperfect
Economics