If a nonbinding price ceiling is imposed on a market, then the
a. quantity sold in the market will decrease.
b. quantity sold in the market will stay the same.
c. price in the market will increase.
d. price in the market will decrease.
b
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A monopoly occurs when
A) each of many firms produces a product that is slightly different from that of the other firms. B) one firm sells a good that has no close substitutes and a barrier blocks entry for other firms. C) there are many firms producing the same product. D) a few firms control the market. E) one firm is larger than the many other firms that make an identical product.
The unemployment rate tells us:
A. what percentage of the labor force wants to work and can't find a job. B. who is currently unemployed. C. why the unemployed can't find work. D. the number of people who really don’t want to work.
If the dollar appreciates, how will aggregate demand in the United States be affected?
A) Aggregate demand will increase as exports increase and imports decrease. B) Aggregate demand will increase as imports increase and exports decrease. C) Aggregate demand will decrease as imports increase and exports decrease. D) Aggregate demand will decrease as exports increase and imports decrease.
When the economy is producing ________, the aggregate supply curve becomes vertical.
A. beyond full capacity B. at negative capacity C. at full capacity D. below full capacity