Which of the following is a price floor?
A) rent controls
B) minimum wage rates
C) a freeze on upward-moving gasoline prices
D) college tuition caps
B
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In the long run, the real interest rate is determined by
A) the nominal interest rate. B) saving supply and investment demand. C) the multiplier effect. D) the expected inflation rate. E) Fed actions.
The Earned Income Tax Credit
a. is targeted to poor families b. is less targeted to poor families than the minimum wage c. is just a different name for the minimum wage d. operates on the labor market in exactly the same as the minimum wage
At the socially optimum equilibrium, net social welfare is at its minimum
a. True b. False Indicate whether the statement is true or false
Monopolists reduce producer surplus.
Answer the following statement true (T) or false (F)