A binding price ceiling causes quantity demanded to be less than quantity supplied
a. True
b. False
Indicate whether the statement is true or false
False
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Firm X owns both a grocery store and the parking lot outside the grocery store. In order to increase the traffic at the store, the store should
a. Decrease the prices on the goods sold in the store b. Increase the parking rates c. All of the above d. None of the above
What are the total profits if four units are produced? a. 40
b. 70. c. -30. d. 20.
The economy experiences an increase in the price level and an increase in real domestic output. Which is a likely explanation?
a. The stock of capital has increased b. Interest rates have increased c. Net exports have increased d. Wage rates have fallen
When the Federal Reserve buys bonds on the open market, it decreases the money supply.
Answer the following statement true (T) or false (F)