Assume a price floor is imposed at the current equilibrium price ...

[dalyningkenk]

Assume a price floor is imposed at the current equilibrium price in the market for lettuce. If the demand for lettuce then increases:
 a. a surplus of lettuce will be created.
 b. a shortage of lettuce will be created.
 c. the quantity of lettuce traded remains the same.
  d. the quantity of lettuce supplied will increase.

Question 2

The time span between the beginning of a downturn and the time by which hard data to indicate a downturn is made available is called:
 a. the signal lag.
 b. the implementation lag.
  c. the impact lag.
 d. the recognition lag.

[pami445]

Answer to Question 1

d

Answer to Question 2

d

[dalyningkenk]

Thank you

[pami445]

Happy to help you