Which of the following statements is true?
A) Price ceilings set below the equilibrium price cause shortages.
B) Surpluses result when a price floor is set above the equilibrium price.
C) Price ceililngs set above the equilibrium price cause surpluses.
D) Price ceilings are set by the market and price floors are set by the government.
E) ?a and b
E
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The U.S. exchange rate rises. As a result, there is a
A) movement along the U.S. aggregate demand curve but the curve does not shift. B) rightward shift in the U.S. aggregate demand curve. C) leftward shift in the U.S. aggregate demand curve. D) rightward shift in the long-run U.S. aggregate supply curve.
Unemployment that results from fundamental technological changes in production, or from the substitution of new goods for customary ones, is:
a. the natural rate of unemployment. b. full employment. c. cyclical unemployment. d. frictional unemployment. e. structural unemployment.
Dogs are more popular than cats in the U.S., but if cats were to become the more popular pet, then we can we expect that in the market for cat-food workers
a. MPP increases b. MRP increases c. MPP decreases d. MRP decreases e. the wage rate decreases
The share of GDP taken by taxes has increased dramatically since the 1960s
a. True b. False Indicate whether the statement is true or false