In the year​ 2000, the country of Economika was in​ long-run macroeconomic equilibrium. The​ full-employment level of GDP in 2000 was​ $5 billion. In​ 2001, the following events occurred. ​(1) Growth in factors of production and technology caused potential GDP to rise to​ $6 billion. ​(2) Consumers became more pessimistic about the​ future, and thus aggregate demand growth was not large. ​(3) There was a sharp and unexpected increase in the price of oil.

answer; someone must cover the cost associated with the provision of scarce goods in both sectors;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.