Which of the following is true?
i. A price ceiling set below the equilibrium price decreases search activity.
ii. A minimum wage is an example of a price ceiling.
iii. A price support decreases the quantity consumed.
A) only i
B) only ii
C) only iii
D) i and iii
E) ii and iii
C
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
People can be excluded from consuming public goods
Indicate whether the statement is true or false
Human capital is defined as the:
A. amount of workers a firm employs. B. amount of capital that is operated by workers in a firm. C. set of skills, knowledge, experience, and talent that determine the productivity of workers. D. amount of capital that is operated by workers in an industry.
The value of the marginal product of capital can be calculated as the market price of the good multiplied by the marginal product of capital
a. True b. False Indicate whether the statement is true or false