If a government imposed price ceiling legally sets the price of beef below market equilibrium, which of the following will most likely happen?
a. The quantity of beef demanded will decrease.
b. The quantity of beef supplied will increase.
c. There will be a surplus of beef.
d. There will be a shortage of beef.
d
Economics
You might also like to view...
When a customer deposits $100 into a checking account, it: a. increases the bank's liabilities only
b. decreases the bank's liabilities only. c. increases the bank's assets only. d. decreases both the bank's liabilities and its assets. e. increases both the bank's liabilities and its assets.
Economics
Economies where goods and services are traded directly for other goods and services are called ________ economies.
A) trade B) barter C) direct D) seigniorage
Economics