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Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?
a. no change, equilibrium would prevail
b. The quantity demanded of garbanzo beans would fall to zero.
c. shortage of 2000 garbanzo beans
d. surplus of 2000 garbanzo beans
The demand for textbooks is Q=200-P+25U-50Pbeer. Assume that the unemployment rate U is 8 and the price of beer P beer is $2. When the average price of a textbook is P=$100, the el
The formula for calculating static and dynamic multiplier
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