Assume an industry initially in equilibrium has a price ceiling imposed at a price below the equilibrium price. Total revenue received by the producers from sales will:
a. rise as a result.
b. rise as a result only if supply is inelastic.
c. rise as a result only if demand is inelastic.
d. fall as a result.
Question 2
Which of the following would tend to increase aggregate demand, other things equal?
a. An increase in the money supply curve.
b. A decrease in the money supply curve.
c. An increase in the money demand cuvre.
d. Both a. and c. would tend to increase aggregate demand, other things equal.
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