Answer the following questions true (T) or false (F)

1. Black markets only exist in developing nations.

2. Rent control is an example of a price ceiling.

3. Price ceilings are illegal in the United States.


1. FALSE
2. TRUE
3. FALSE

Economics

You might also like to view...

What is meant by the term "inside lags"?

What will be an ideal response?

Economics

In the money market, a condition of excess supply of money can be eliminated by a ________ in aggregate output or a ________ in the interest rate, everything else held constant

A) rise; rise B) rise; fall C) fall; rise D) fall; fall

Economics

Suppose you purchase a call option with a strike price of $85 for an options price of $10 How much profit will you earn if you exercise it when the price is $100?

What will be an ideal response?

Economics

According to classical macroeconomic theory, nominal variables, but not real variables, are affected by changes in the

a) supply schedule. b) labor supply. c) money supply. d) aggregate supply.

Economics