In Venezuela, the government attempted to control rising food prices by implementing price ceilings in the market. These price ceilings were set ________ the market prices, which resulted in ________ of food
A) above; surpluses
B) above; shortages
C) below; surpluses
D) below; shortages
Answer: D
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Countervailing duty cases involve allegations of
A) foreign monopoly pricing. B) foreign export subsidies. C) foreign barriers to U.S. exports. D) All of the above.
An example of a "missing" market would be:
A. the market to buy and sell children for adoption. B. the market to buy and sell a kidney. C. the market to buy and sell dates for a Friday night. D. All of these markets are missing.
The fact that since 1990 the number of movie screens in the United States has grown faster than the number of theaters illustrates the benefits of
a. economies of scale b. constant long-run average cost c. diseconomies of scale d. increasing long-run average cost e. a U-shaped marginal cost curve
If interest rates fall, the opportunity cost of spending money today rather than tomorrow
a. rises. b. falls. c. rises only if the prices of goods today rise. d. falls only if the prices of goods today fall.