An example of a price ceiling would be the government setting the price of sugar
A. at the equilibrium market price.
B. below the equilibrium market price.
C. above the equilibrium market price.
D. none of the above
Answer: B
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Consumer sovereignty is mainly applicable to ______ economies.
a. traditional b. centralized c. command d. market
In the United States, the main contributor to economic growth is due to the growth in
A) physical capital. B) education (human capital). C) labor resources. D) capital and labor productivity.
A college student decides to spend the afternoon watching three movies rented from Red Box. The cost of each movie is $1. The student was willing to pay $4 to rent each of the first two movies and $2 to rent the third movie. What was the marginal benefit received by the student when renting the 1st movie?
A. $1 B. $8 C. $4 D. $2
Money demand is given by Md/P = 1000 + .2Y - 1000i.Given that P = 200, Y = 2000, and i = .10, velocity is equal to
A. 0.75. B. 1.33. C. 1.54. D. 0.65.