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Author Question: If a price ceiling of 4.00 per gallon is imposed on gasoline, and the market equilibrium price is ... (Read 88 times)

ahriuashd

  • Hero Member
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  • Posts: 535
on: Jun 30, 2018
If a price ceiling of 4.00 per gallon is imposed on gasoline, and the market equilibrium price is 4.50, then the price ceiling is a binding constraint on the market.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following is an appropriate fiscal policy response to high inflation?
 a. increase interest rates
 b. increase government purchases
  c. decrease taxes
 d. none of the above


cdmart10

  • Sr. Member
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  • Posts: 332
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

d


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