Because a price ceiling causes:
A. a shortage, some form of rationing must occur.
B. a surplus, some form of rationing must occur.
C. a shortage, the outcome will be efficient.
D. a surplus, the outcome will be inefficient.
A. a shortage, some form of rationing must occur.
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There is no change in total revenue when the demand curve for a good is:
a. unitary elastic. b. perfectly inelastic. c. elastic. d. inelastic. e. perfectly elastic.
Tax loopholes
a. reduce the progressivity of the federal income tax. b. encourage particular patterns of behavior. c. include exemption of interest earned on municipal bonds. d. All of the above are correct.
According to the official U.S. threshold, 35 percent of Americans live in poverty.
Answer the following statement true (T) or false (F)
Data for an economy shows that the unemployment rate is 10 percent, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the labor force in this economy?
A. 200 million B. 800 million C. 80 million D. 1.0 billion