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Author Question: If the price of sandals is fixed by law below the market-clearing price, A) a surplus of sandals ... (Read 28 times)

fnuegbu

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on: Jun 29, 2018
If the price of sandals is fixed by law below the market-clearing price,
 
  A) a surplus of sandals will result.
  B) sandal inventories at shoe stores will be smaller.
  C) sandal sellers will spend more on advertising.
  D) the quantity of sandals demanded will be greater than the quantity supplied.
  E) the quantity of sandals demanded will be less than the quantity supplied.

Question 2

In the economic way of thinking, information is a scarce economic good because
 
  A) people need more information.
  B) modern-day capitalism turned information into a tradable commodity.
  C) it is valuable, and there are opportunity costs to get it.
  D) a political conspiracy limits its production to keep citizens uninformed.


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jaykayy05

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

B

Answer to Question 2

C


fnuegbu

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


jaykayy05

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


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