The above figure shows the market for crude oil. If a consumer group convinces the government to set a maximum price of $2 per barrel, then
A) 300 barrels of crude oil will be sold at $2.
B) zero barrels of crude oil will be sold.
C) zero barrels of crude oil will be demanded.
D) None of the above.
B
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If the price of papayas is 12 baht in Thailand and the exchange rate is 30 baht per dollar, then what is the dollar price of papayas?
A) $0.40 B) $2.50 C) $2.90 D) $26.00
Under TANF, at least 50% of single mother recipients and 90% of two-parent families must be working or in work preparation programs.
A. True B. False C. Uncertain
If the government regulates the price that a natural monopolist can charge to be equal to the firm's marginal cost, the firm will
a. earn zero profits. b. earn positive profits, causing other firms to enter the industry. c. earn negative profits, causing the firm to exit the industry. d. minimize costs in order to lower the price that it charges.
Major economies around the world, such as the U.S. and Great Britain, are largely independent of one another, and thus their economic fluctuations bear little relationship to one another
Indicate whether the statement is true or false