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In 2022, inflation hit food prices hard. Some policy makers started to recommend price ceilings to keep groceries affordable. Suppose the government required grocery stores
In 2022, inflation hit food prices hard. Some policy makers started to recommend price ceilings to keep groceries affordable. Suppose the government required grocery stores to lower the prices of the following items by 25%. Economists warn that price ceilings will lead to shortages. Which of the following goods is least likely to suffer from a shortage given a price ceiling: A. Chocolate bars B. Salt C. Pomegranates D. Potato Chips
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Macroeconomics Principles and Applications
Authors: Robert e. hall, marc Lieberman
5th edition
1111397465, 9781439038970, 1439038988, 978-1111397463, 143903897X, 9781439038987, 978-1133265238
