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Author Question: If a price ceiling is set above the current market clearing price, then A) a surplus must ... (Read 191 times)

Anajune7

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on: Jun 29, 2018
If a price ceiling is set above the current market clearing price, then
 
  A) a surplus must immediately occur.
  B) a shortage must immediately occur.
  C) there will be incentives for black markets to develop.
  D) quantity demanded will remain equal to quantity supplied at the current market clearing price.

Question 2

A congressman states, If a government attempts to increase employment through increased government spending, all we will end up with is a higher price level. This congressman assumes that the
 
  A) aggregate demand curve is a horizontal line.
  B) aggregate demand curve is a vertical line.
  C) aggregate supply curve is a horizontal line.
  D) aggregate supply curve is a vertical line.


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jaymee143

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


Anajune7

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Reply #2 on: Jun 29, 2018
Correct answers!


jaymee143

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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