Under a price ceiling, the full economic price is
A. higher than the free-market price.
B. the dollar price paid to the firm.
C. lower than the free-market price.
D. the opportunity cost of not being able to buy a good when a consumer needs it.
Answer: A
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In the RBC model, the importance of "intertemporal substitution" of labor supply is ________, which results in a rather ________ labor supply curve
A) denied, flat B) denied, steep C) emphasized, flat D) emphasized, steep
What are the shortcomings of using changes in per capita real GDP to measure economic growth?
What will be an ideal response?
The extra production gained by employing one more worker is called the:
A. opportunity cost of labor. B. marginal product of labor. C. real wage of labor. D. price of labor.
What is the fall in domestic revenue due to this unexpected move in the exchange rate?
a. $389 b. $1,289 c. $2,896 d. $3,896