Price ceilings which lead to shortages will impose costs on society because they
A. will lead to long waiting lines
B. may result in black market prices, which are higher than the market-determined price would be.
C. lead to a smaller quantity offered on the market.
D. do all of the above.
Ans: D. do all of the above.
Economics
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Based on TJCA, the value of personal exemptions:
A. is $0.00 B. is $2400.00 C. varies with taxpayer's marginal tax rates D. is the same as the standard deduction
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Refer to the above figure. The figure represents the consumption function for a consumer. Point C represents
A) autonomous consumption. B) positive saving. C) negative saving. D) zero saving.
Economics