Which statement is FALSE?
A. Rent control is a price ceiling.
B. Usury laws can lead to a surplus of loanable funds.
C. The government, to encourage family farms to stay in business, created price supports for corn and wheat.
D. Price ceilings prevent prices from rising.
B. Usury laws can lead to a surplus of loanable funds.
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Assume that autonomous consumption equals $200 and disposable income equals $1000. If total consumption equal $800, then the mpc equals
A) 0.2. B) 0.6. C) 0.8. D) 1.0.
A football stadium has a fixed number of seats. Given this, how should stadium management determine ticket prices?
a. When MR
What was the net balance in 2017?
a. -$808 billion b. -$449 billion c. $0 d. $354 billion
Answer the following questions true (T) or false (F)
1. If demand for a product is perfectly inelastic, a change in price will not change total revenue. 2. Suppose the absolute value of the price elasticity of demand for basketball game tickets on your campus is greater than 1. Increasing ticket prices will increase the total revenue from ticket sales.