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True or False: When the government imposes a price floor above the equilibrium price, producers will sell more of the good due to the higher prices.

The Economist recently reported that price of an electric vehicle fell slightly during the first half of the year. Over the same period, the quantity of electric vehicles increased 27%. Which of the following statements could explain this observation? 

When the government imposes a price ceiling above the equilibrium price, ____ are made better off, and _____ are made worse off. 

Refer to the figure above. ____ has an absolute advantage in producing of ham, and ____ has an absolute advantage in producing cod fish.

With no international​ trade, the U.S. price of wheat is lower than the world price of wheat. This indicates that the United States​ ____ a comparative advantage in the production of wheat and with international​ trade, the United States will​ ____ wheat.

Refer to the graph above. The government imposes a tax in the market for gasoline. The total amount of this tax is ____. Producers must pay ____ of this tax.

Cream and skim milk are complements in production, and the price of skim milk falls. Simultaneously, consumers’ incomes rise. Cream is a normal good. Which of the following statements MUST be true? 

Refer to the graph above. The government imposes a minimum wage of $25. As a result, there will be ____ employed workers. 

With no international​ trade, the U.S. price of wheat is higher than the world price of wheat. This indicates that the United States​ ____ a comparative advantage in the production of wheat and with international​ trade, the United States will​ ____ wheat.

Which of the following statements most correctly describes the Law of Demand?