The minimum wage is an example of a
A) price door.
B) price wall.
C) price floor.
D) price ceiling.
C
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Economic historians do not believe there was a shortage of money in colonial America for which of the following reasons?
(a) Interest rates were not unreasonably high. (b) Long-term prices were rising. (c) The colonial economy was growing in real terms. (d) All of the above.
The federal funds rate increased from 2.5 percent in February 2005 to 5.26 in February 2007. This change in the federal funds rate clearly indicates that during this period the Fed followed a(n):
A. contractionary fiscal policy. B. expansionary monetary policy. C. expansionary fiscal policy. D. contractionary monetary policy.
When the unemployment rate is relatively high, we can conclude that:
What will be an ideal response?
Refer to Figure 3-1. An increase in the expected future price of the product would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.