During World War II, there was an extensive black market for tires in the United States. The most likely explanation for the existence of the black market was that
A. the price of tires was artificially held down by price controls.
B. the price of tires was artificially increased by price controls.
C. tires were one of the few goods not subject to price controls.
D. gasoline rationing greatly restricted civilian driving.
A. the price of tires was artificially held down by price controls.
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The firm's short run supply curve is equal to the
A) entire marginal cost curve. B) marginal cost curve above the AVC curve. C) marginal cost curve above the ATC curve. D) marginal cost curve above the AFC curve.
What are the differences between national income, personal income, and disposable personal income?
What will be an ideal response?
Recessions can sometimes last less than a single year
a. True b. False
If the government wishes to increase GDP by $1,200b, and the MPC is 0.75, it should:
A. increase its spending by $300b. B. decrease its spending by $900b. C. increase its spending by $900b. D. decrease its spending by $300b.