Price floors keep the price _____ equilibrium price; price ceilings keep price _____ equilibrium price.
Fill in the blank(s) with the appropriate word(s).
above; below
You might also like to view...
Suppose that last week 100,000 people lost their jobs or quit. We can say that
A) the number of unemployed increased by less than 100,000 people because we should not count those who quit their jobs. B) the 100,000 people represent a stock known as the new unemployed. C) the number of unemployed increased by 100,000 people. D) the 100,000 people represent a flow known as job departures.
Which of the following increases aggregate demand and shifts the AD curve rightward?
A) a fall in the price level B) an increase in the quantity of money and a resulting fall in the interest rate C) predictions of a recession that lead to expectations of lower future income D) an increase in the exchange rate that makes imports less expensive
Firms in monopolistic competition maximize their profit by setting their price equal to their marginal revenue
Indicate whether the statement is true or false
Typically, the budget deficit is financed by: a. printing money. b. issuing debt
c. raising taxes. d. both a. and c.