The consequences of economic policies are often predicted or intended by their advocates.
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Q12: Suppose that the equilibrium wage rate in
Q13: Market prices are an efficient and impersonal
Q14: Suppose a price ceiling is placed on
Q15: Opponents of the minimum wage note that
Q16: The minimum wage creates the most benefits
Q18: A binding price floor causes a surplus.
Q19: Suppose the market equilibrium price for cigarettes
Q20: Common rationing mechanisms under price ceilings include
Q21: If demand is less elastic than supply,
Q22: Tax incidence ultimately depends on the legislated
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