Refer to Figure 9.6. The government policy pictured is
A) a price ceiling of $20.
B) a price support of $20.
C) a price ceiling of $15.
D) a price support of $15.
E) A quota of 600.
B
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The Constitution created an environment conducive to economic growth and development because the federal government could constitutionally do all of the following except
(a) Levy uniform taxes (b) Coin money and regulate its value (c) Regulate commerce, thus prohibiting states from erecting barriers to the interstate movement of goods (d) Set "fair" prices on the private sale of goods in the marketplace
If you were a lender, which of the following unexpected changes in inflation would you prefer once you have issued a long term fixed rate loan?
a. An increase from 2% inflation to 6% inflation. b. An increase from 7% inflation to 10% inflation. c. A decrease from 14% inflation to 8% inflation. d. A decrease from 6% inflation to 3%.
A budget surplus occurs when government receipts fall short of government spending
a. True b. False Indicate whether the statement is true or false
European countries tend to rely more on consumption taxes than does the United States
a. True b. False Indicate whether the statement is true or false