Price ceilings and floors have traditionally been used when
a. markets don't clear
b. markets clear but quantities bought and sold are insufficient to satisfy consumers
c. excess supply becomes fixed or relatively fixed
d. prices are volatile, fluctuating almost daily
e. prices are unacceptably high or low
E
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A firm that wishes to maximize profits will continue to purchase capital goods until the
A) nominal rental price of capital = MPK. B) real rental price of capital = MPK. C) nominal rental price of capital = the real rental price of capital. D) nominal rental price of capital = the price level.
________________________: price concessions from the seller, the expected cost of expenditures must be added to the observed transaction price, if, in fact, the expenditures were made after the acquisition.
Fill in the blank(s) with the appropriate word(s).
The type of contract selected depends on the information available to the parties
What will be an ideal response?
By making exchange ________, money allows for specialization and higher ________
A) more difficult; costs B) more difficult; productivity C) easier; costs D) easier; productivity