When a shortage of a good is present due to a price ceiling,
a. the amount supplied will be greater than the amount demanded.
b. the quality of the good will generally improve.
c. non-price factors, such as discrimination or waiting in line, will play a greater role in the allocation of the good.
d. the demand for the product will increase and, thereby, eliminate the shortage.
C
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For the past 30 years, labor's share of national income ________ while labor productivity ________
A) fell dramatically, increased B) remained roughly constant, dropped C) remained roughly constant, increased D) increased modestly, dropped
The U.S. federal government is unlikely to default on its bond payments because:
A. if necessary, it can print the money needed to make payments on time. B. its bond payments are insured. C. the U.S. federal budget usually runs a surplus, providing ample funds for repaying debt. D. of all of these.