If the government establishes a legal price floor for a good, the result will be a(n):
A. a. shortage of the good, but only if the floor is equal to the equilibrium price.
B. b. surplus of the good, but only if the floor is above the equilibrium price.
C. c. surplus of the good, but only if the floor is below the equilibrium price.
D. d. shortage of the good, but only if the floor is above the equilibrium price.
查看答案
If a price ceiling above the equilibrium price is imposed on gasoline, which of the following will result?
A. a. There will be a surplus of gasoline.
B. b. The quantity demanded will exceed the quantity supplied.
C. c. The quantity supplied will exceed the quantity demanded.
D. d. The quantity of gasoline demanded will equal the quantity of gasoline supplied.
A price ceiling is
A. a. a legal maximum price at which a good can be sold.
B. b. a legal minimum price at which a good can be sold.
C. c. typically equal to the equilibrium price of a good.
D. d. a price set by government that varies with market conditions.
A wage is the price for labor. A minimum wage set above equilibrium wage would be an example of:
A. a. a price ceiling.
B. b. a price floor.
C. c. a gap in prices or wages.
D. d. a wage settlement.
Tax incidence deals with
A. a. the level of taxable income.
B. b. the level of taxation on sales.
C. c. the dollar amount of incidental taxes.
D. d. who bears the burden of a tax.
微信支付 
支付宝支付