A price ceiling that is set above the equilibrium price
A) causes suppliers to raise their prices.
B) is binding.
C) is non-binding.
D) creates a shortage.
C
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Very few societies have used price controls.
Answer the following statement true (T) or false (F)
The table above gives data for the nation of Pearl, a small island in the South Pacific. When the economy is at full employment the price level is
A) 150. B) 110. C) 130. D) 140. E) 120.
The exchange rate is
a. another term for "interest rate." b. another term for "growth rate." c. the rate at which goods trade for one another across international borders. d. the price of one currency in terms of another currency.
The two defects of cafeteria benefit plans are
A. the high cost of administration and wrong employee decisions. B. employee decision making and adverse selection. C. the high cost of administration and adverse selection. D. employee decision making and free riding.