An example of a price ceiling would be:
a. a ration coupon.
b. a guarantee of a target price for farm products.
c. parity pricing.
d. rent control.
e. the soil bank program.
d
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All of the following describe trends in the labor markets of the industrialized world EXCEPT:
A. growing wage inequality. B. substantial growth in real wages over the twentieth centaury C. low rates of unemployment in Western Europe. D. a slowdown in real wage growth since the 1970s.
According to the U.S. Constitution, if government seizes your land through eminent domain, it must be taken for public use
Indicate whether the statement is true or false
In barometric price leadership, one firm announces a change in price
a. and the other firms follow b. but the other firms refuse to follow c. that it hopes will be accepted by others d. which is merely a test of the market e. none of the above.
A surplus of wheat:
a. is impossible if people are hungry. b. is impossible if the price of wheat is below equilibrium. c. will result when the quantity demanded exceeds the quantity supplied at the current price. d. is unlikely to cause any change in the price of wheat. e. indicates that the problem of scarcity of wheat has been solved.