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Afina-wow [57]
4 years ago
5

As illustrated here, a binding price ceiling causes a short-run shortage, which then worsens into a long-run shortage. what, in

this particular scenario, happens to the black-market price between the short run and the long run?
Business
1 answer:
ioda4 years ago
6 0

Answer:

Explanation:

Price ceiling is a price regulatory system put in place by the government to check how high the price of a product can be. It is binding when it is set below the equilibrium price consequently leading to shortage of goods , but non binding if set above the equilibrium price since the price can still fall back to the equilibrium.

When shortage arises as a result of price ceiling being set below the equilibrium price , black market is formed to resolved the shortage with price set by supply and demand. Goods will be illegally sold at prices above the price ceiling.

The effect on black market in the short run will not be severe as the as demand and supply are still at the inelastic stage , but becomes severe in the long run due to elastics demand and supply.

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What happens on the money balances market (the demand and supply for money) when the Federal Reserve conducts an open market pur
Papessa [141]

Answer:

Increased Money supply and decreased rates

Explanation:

When the Federal reserve buys the bonds on the Open market operations, the cash is disbursed by the Fed to the seller of bonds which in case increases the money that is supplied in the market and hence the quantity of money held by general public. The interest rate will ultimately decrease as the money supply is more and people tend to spend more than save.

Hope this clear things up.

Goodluck.

8 0
4 years ago
Read 2 more answers
The extended warranty on a $960 dishwasher is 21% of the purchase price and lasts for eight years. What is the effective cost pe
laila [671]

Based on the percentage of the extended warranty and the number of years it is to last, the effective cost per year is<u> d. $25.20</u>

First find the total warranty coverage for the dishwasher:

<em>= Warranty percentage x Cost of dishwasher </em>

= 21% x 960

= $201.60

The effective cost per year is:

<em>= Total warranty / Number of years </em>

= 201.60 / 8 years

= $25.20

In conclusion, the cost is $25.20.

<em>Find out more on extended warranties at brainly.com/question/2102527.</em>

7 0
3 years ago
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Corrine works in a doctor's office. Sometimes the office is slow with only a few clients. She always finds tasks to keep her bus
Temka [501]
This is an initiative working habit.
5 0
3 years ago
For economic purposes in the united states, the working-age population does not include:_______
Minchanka [31]

For monetary purposes inside the USA, the running-age population does no longer include the civilian, noninstitutional population aged sixteen and over.

Working age' is normally described as 15 to 64 years. This definition is for example used for the 'vintage-age dependency ratio', with people aged 65 and over being labelled 'established'.

The labour pressure participation fees are calculated because the labour force is divided by the full working-age populace. The working age populace refers to people aged 15 to sixty-four. This indicator is damaged down by using age organization and its miles measured as a per cent of every age institution.

A number of the opposite discounts are in all likelihood because of out-migration during the pandemic. however, in regards to the shrinkage within the pool from which we could pull a staff, the primary purpose is demographics. greater human beings are passing into retirement age than are getting into running age.

The working-age populace is the entire populace in an area this is considered capable and possibly to paintings based on the number of people in a predetermined age variety. The working-age population degree is used to provide an estimate of the overall number of capable employees within an economic system.

Learn more about the working-age population here: brainly.com/question/14821832

#SPJ4

6 0
2 years ago
Tim wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacatio
Luda [366]

Answer:

Tim can easily determine that the price of the computer is more than the price of the vacation = Unit of Account

Tim has $1,537 in his checking account = Store of value

Tim writes a check for $1,299 = Medium of Exchange

4 0
4 years ago
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