One common example of a price ceiling is rent control
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
We can use macroeconomic analysis to
A) learn how to balance a checkbook. B) understand why economies grow. C) study the choices made by households. D) understand marginal changes in the macroeconomy.
In a perfectly competitive industry, an individual firm faces
A) a perfectly inelastic labor supply curve. B) a perfectly vertical labor supply curve. C) a perfectly elastic labor supply curve. D) none of the above.
Marginal utility is the change in:
a. total utility when an extra unit of output is produced. b. marginal utility when an extra unit of output is consumed. c. total utility when an extra unit of output is consumed. d. marginal utility when an extra unit of output is produced. e. average utility when an extra unit of output is consumed.
Visit the home page of the World Trade Organization
Questions:
- What is the primary function of this organization?
- What is the GATT? Discuss the economic rationale for agreements such as the GATT.