Figure 4-17
Refer to . Which of the following price controls would cause a shortage of 10 units of the good?
a.
a price ceiling of $5.50
b.
a price floor of $5.50
c.
a price ceiling of $6.50
d.
a price floor of $6.50
a
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Financial securities that represent promises to repay a specified amount of money at a particular point in the future are
A) bonds. B) stocks. C) commodities. D) mutual funds.
The first important federal law passed to regulate monopolies in the United States was the
A) Sherman Act. B) Cellar-Kefauver Act. C) Federal Trade Commission Act. D) Clayton Act.
A craft union can raise union members' wages by restricting labor supply through high initiation fees, long apprenticeship periods, or difficult qualifying requirements
Indicate whether the statement is true or false
Suppose a recession in Europe reduces U.S. net exports at every price level. Which of the following would you expect to occur in the U.S. as a result of this change?
a. In the short run, unemployment will increase and inflation will fall. b. In the short run, unemployment will increase and inflation will rise. c. In the short run, unemployment will decrease and inflation will rise. d. In the short run, unemployment will decrease and inflation will fall.