Author Question: If a legal ceiling price causes the quantity of a good demanded to be greater than the quantity ... (Read 52 times)

bucstennis@aim.com · **on:** Jun 29, 2018

If a legal ceiling price causes the quantity of a good demanded to be greater than the quantity supplied

A) competition among both buyers and sellers is prevented.
B) competition among buyers is prevented.
C) competition among sellers is prevented.
D) competition among buyers will raise the nonmonetary costs of obtaining the good.

Question 2

If the government drafts people into the armed forces rather than persuading them to volunteer

A) it conceals in part the cost to its citizens of obtaining military personnel.
B) it employs a nondiscriminatory system because everyone drafted incurs the same cost and can be paid the same wage.
C) it must pay higher wages since many people resent the draft.
D) it reduces the cost to the nation as a whole of obtaining military personnel.
E) it tends to obtain people with the lowest opportunity costs.