An outcome that can result from either a price ceiling or a price floor is
a. an enhancement of efficiency.
b. undesirable rationing mechanisms.
c. excess supply.
d. excess demand.
Answer: B
Microeconomics
- An increase in the price level may be caused
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- Suppose that wages increase sharply this year. Other things being equal a wide-spread increase in wages will have which of the following consequences for the U.S. economy?
- An unanticipated increase in inflation this year will
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