Statement 1: Price ceilings cause shortages. Statement 2: Interest rates are set by supply and demand, but

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Statement 1: Price ceilings cause shortages. Statement 2: Interest rates are set by supply and demand, but wage rates are not.

a) Statement 1 is true and statement 2 is false.

b) Statement 2 is true and statement 1 is false.

c) Both statements are true.

d) Both statements are false.

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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