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Author Question: Governments sometime create an excess supply of a product by setting a minimum price that is greater ... (Read 49 times)

geoffrey

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on: Jun 30, 2018
Governments sometime create an excess supply of a product by setting a minimum price that is greater than the equilibrium price, resulting in a permanent excess supply of the product. This is known as a price ceiling.
 
  Indicate whether the statement is true or false

Question 2

Suppose the United States is in the midst of a recession. What will happen to the value of the mpi?
 
  A) It will decrease. B) It will fall to zero. C) It will not change. D) It will increase.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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AaaA

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Reply #1 on: Jun 30, 2018
Answer to Question 1

FALSE

Answer to Question 2

A


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