The price of $4 in the graph above represents
A. a price floor.
B. a price ceiling.
C. either a price floor or a price ceiling.
D. neither a price floor nor a price ceiling.
B. a price ceiling.
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If you post your car on eBay with a "Buy It Now" price of $1,800, you are using money as
A. bank reserves. B. a medium of exchange. C. a unit of account. D. a store of value.
The quantity demanded of an input normally rises as its price rises
a. True b. False Indicate whether the statement is true or false
The point where the PPF intersects the vertical axis is
A) unattainable. B) attainable and productive efficient. C) attainable but productive inefficient. D) attainable and neither productive efficient nor productive inefficient.
Which of the following is true about the equilibrium market wage? A. All workers are satisfied with the wage.
A. All workers are satisfied with the wage. B. There is no unemployment in the market at the equilibrium wage. C. Competitive employers have market power with respect to the equilibrium wage. D. All employers are satisfied with the wage.