Governments sometime create an excess supply of a product by setting a minimum price that is greater than the equilibrium price, resulting in a permanent excess supply of the product. This is known as a price ceiling.

Suppose the price level is unchanged and real GDP decreases. Then

A) nominal GDP must decrease. B) nominal GDP must remain unchanged. C) nominal GDP must increase. D) none of the above are true.

States that developed successful and sound commercial banking systems in the antebellum period included all of the following except:

a. New York. b. Ohio. c. Michigan. d. Louisiana.