Author Question: A price floor above the market clearing price typically results in I. an excess quantity supplied ... (Read 117 times)

casperchen82 · **on:** Jun 29, 2018

A price floor above the market clearing price typically results in I. an excess quantity supplied II. a shortage III. an excess quantity demand

A) I only
B) II only
C) III only
D) II and III only

Question 2

Which of the following is TRUE of an excise tax?

A) An excise tax is always a unit tax.
B) An excise tax is levied on purchases of particular good or service.
C) An excise tax is based on an individual's income.
D) Imposing an excise tax shifts the market demand curve.