If the government removes a binding price ceiling from a market, then the price received by sellers will
a. decrease, and the quantity sold in the market will decrease.
b. decrease, and the quantity sold in the market will increase.
c. increase, and the quantity sold in the market will decrease.
d. increase, and the quantity sold in the market will increase.
d
Economics
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Scenario 4.5 indicates that grilled cheese sandwiches and hamburgers are:
A) substitutes. B) complements. C) independent goods. D) none of the above
Economics
If the consumer price index (CPI) is 220 one year and 210 the next, the annual rate of inflation as measured by the CPI is approximately _____
a. ?2.3 percent b. ?4.6 percent c. 10 percent d. 4.8 percent e. 220 percent
Economics