Market Equilibrium and Disequilibrium
AP Macroeconomics · Flashcards
AP MACROECONOMICS · FLASHCARDS
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QUESTION
What is the effect of a government-imposed rent control below equilibrium?
QUESTION
What is a price ceiling?
QUESTION
What is deadweight loss in market terms?
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ANSWER
The loss of economic efficiency when equilibrium is not achieved. Results from market intervention preventing efficient allocation.
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