Explain the impact of: 1 . A rent ceiling set below the equilibrium price. 2 . A price floor set above the equilibrium price
A rent ceiling set below the equilibrium price results in a persistent shortage. A price floor set above the equilibrium price will result in a surplus.
Economics
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Economists assume that
A) people put other people's interests ahead of their own. B) individuals behave in unpredictable ways. C) consumer behavior is explained by the existence of unlimited resources. D) optimal decisions are made at the margin.
Economics
Income is measured as
a. average cash holdings per time period. b. change in cash holdings per time period. c. some amount per time period. d. some amount at a point in time.
Economics