Governments may intervene in private markets through
A) rationing by political power.
B) price floors.
C) price ceilings.
D) all of the above.
D
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One of the following is a regression example for which Entity and Time Fixed Effects could be used: a study of the effect of
A) minimum wages on teenage employment using annual data from the 48 contiguous states in 2006 . B) various performance statistics on the (log of) salaries of baseball pitchers in the American League and the National League in 2005 and 2006. C) inflation and inflationary expectations on unemployment rates in the United States, using quarterly data from 1960-2006. D) drinking alcohol on the GPA of 150 students at your university, controlling for incoming SAT scores.
One reason the oversimplified multiplier is incorrect is that inflation
a. increases the multiplier by increasing investment spending. b. increases the multiplier by increasing consumer spending. c. decreases the multiplier by increasing net exports. d. decreases the multiplier by decreasing consumer spending.
Suppose a consumer spends her income on two goods: music CDs and DVDs. The price of a CD is $8, and the price of a DVD is $20 . If we graph the budget constraint by measuring the quantity of CDs purchased on the vertical axis and the quantity of DVDs on the horizontal axis, what is the slope of the budget constraint?
a. -5.0 b. -2.5 c. -0.4 d. The slope of the budget constraint cannot be determined without knowing the income the consumer has available to spend on the two goods.
The textbook finds the growth record of Latin American countries after World War II "mixed" but suggests as the "safest generalization" that
What will be an ideal response?