If a price ceiling on coffee is set above the market-clearing price, then
A) the quantity of coffee demanded will decrease.
B) the quantity of coffee supplied will increase.
C) the quantity demanded for coffee will increase.
D) all of the above will occur.
E) none of the above will occur.
E
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A particularly strong expansion is called a(n):
A. output excess. B. boom. C. bonanza. D. growth recession.
Public choice theory assumes that those involved in the public sector are generally motivated by
A) public spirit. B) altruism. C) the desire to achieve allocative efficiency. D) the same factors involved in the private sector. E) a and b
An entrepreneur is a(n):
A. individual who has much education. B. organizer who seeks profitable opportunities and is willing to accept risks. C. business organization that uses inputs to produce output. D. depot or warehouse for commercial products.
According to the Bureau of Labor Statistics, if you voluntarily leave your job to search for another job, then you
A. are eligible for unemployment compensation. B. are classified as a job loser. C. are classified as unemployed. D. may not re-enter the labor force for six months.