Suppose over the last year that the price of recycled aluminum increased from $800 a ton to $900 a ton. over the same time a measure of the overall price level increased from 120 to138. the real price of recycled aluminuma. decreased, so it became less scarceb. increased, so it became scarcerc. increased, so it became less scarced. decreased, so it became scarcer

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Why is investing in a mutual fund less risky than investing in a particular company’s stock?

What provides financial support to workers who are retired or have disabilities? medicare social security tax withholdings medicaid