A price floor in a competitive market will result in persistent shortages of a product.
Answer the following statement true (T) or false (F)
False
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Income equality has
A) decreased in the United States as manufacturing has increased. B) narrowed within countries but increased across countries. C) increased within countries but has narrowed across countries. D) not changed in the advanced economies over the past 50 years. E) increased in developing economies as manufacturing has decreased.
An economic model is a simplified version of reality used to analyze real-world economic situations
Indicate whether the statement is true or false
An example of a tax-funded program intended to provide basic human needs is the provision of:
A. public education. B. police protection. C. health care. D. national defense.
Which of the following groups is engaging in rent seeking?
a. Karst Salvage, a non-profit that accepts donations to educate people about the importance of caves b. Safer Rides, a group that lobbies elected officials to get safety features added to cars c. Daring Drones, a group that makes donations to officials hoping to get permits to fly in restricted areas d. Long-time Logging, which donates money to campaigns of politicians who promise to help preserve forests