Which of the following is a likely result of the federal government fixing the price of a good above the equilibrium level?

  Line De represents ranchers’ demand for hay last year. This year, winter is extremely mild and ranchers are consequently leaving their cattle in the pasture to graze for a longer period of time than they did last year. Which line represents this year’s demand for hay? 

Which of the following is a typical consequence of a rise in price?

What does the Invisible Hand adjust?

Land and labor are two factors of what?

A government can fix prices, such as a minimum or maximum price for a good or service which can create an aberrancy.  When the government fixes a price above the market rate what would be the most probable aberration?

A house owner wants to maintain his house.  What is the economic term for this desire?

_____ prices provide ______ for producers to increase production?

What best completes this statement:  “Market failures have negative effects on the economy because an optimal allocation of resources ________?”

A government can fix prices, such as a minimum or maximum price for a good or service which can create aberrancy.  When the government fixes a price below the market rate, what would be the most probable aberration?