A price floor that is set above market equilibrium will cause
A) an excess quantity demanded.
B) a shortage.
C) a surplus.
D) queuing on the part of consumers.
C
Economics
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Refer to Figure 6-9. The data in the diagram indicates that DVDs are
A) luxury goods. B) inelastic goods. C) necessities. D) both luxury goods and inelastic goods. E) both necessities and inelastic goods.
Economics
"A lower price level may lower the interest rate, but investment demand may not respond to this." This is a statement a __________ economist might make as an explanation of why the economy __________ pull out of a recession
A) Classical; will B) Classical; may not be able to C) Keynesian; will D) Keynesian; may not be able to
Economics