A price floor:
A. establishes a maximum price.
B. establishes a minimum price.
C. establishes a maximum quantity.
D. establishes a minimum quantity.
B. establishes a minimum price.
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Briefly discuss the main advantage of the bimetallic standard over the gold standard
What will be an ideal response?
The United Steel Workers Union is an example of
A) a craft union. B) an auto union. C) an industrial union. D) a blue collar union.
A(n) _____ is a budget philosophy that was followed prior to the Great Depression that aimed at matching annual revenues with outlays, except during war time
a. annually balanced budget b. annual surplus budget c. biennial deficit budget d. biennially balanced budget e. cyclically balanced budget
Refer to the following indifference map for a consumer who has an income of $48 to spend on goods X and Y and the market prices of X and Y are both $4: Now suppose the price of good X increases to $12 while the price of good Y remains $4. Utility will be maximized on which indifference curve?
Now suppose the price of good X increases to $12 while the price of good Y remains $4. Utility will be maximized on which indifference curve?
A. I B. II C. III D. On an indifference curve below I