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Author Question: If the Chinese government sets a price ceiling below the equilibrium price, the result will be to ... (Read 66 times)

Davideckstein7

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on: Jun 29, 2018
If the Chinese government sets a price ceiling below the equilibrium price, the result will be to
 
  A) increase total surplus.
  B) create deadweight loss.
  C) increase surplus and create deadweight loss.
  D) eliminate deadweight loss.

Question 2

What are the categories of total expenditure?
 
  What will be an ideal response?


bd5255

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

B

Answer to Question 2

There are four categories: Consumption expenditure, spending by households; investment, spending by firms to buy new capital equipment or add to inventories; government expenditures on goods and services, spending by all levels of the government to buy goods and services; and net exports of goods and services, which equals the exports of goods and services minus the imports of goods and services.


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