The minimum price for a good set by the government above the equilibrium price is called a:
A. price ceiling.
B. price floor.
C. parity price ratio.
D. market-generated price.
Answer: B
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Comparing a perfectly competitive market to a single-price monopoly with the same costs, we see that
A) both markets are equally efficient in their use of resources. B) the monopoly market always is more efficient in the use of resources. C) the perfectly competitive market achieves efficiency in resource use while the monopoly market does not. D) the monopoly market achieves efficiency in resource use while perfectly competitive market does not. E) None of the above answers is correct because comparing a perfectly competitive market to a monopoly is impossible.
Commercial bank reserves are typically less than 1 percent of total assets, however in 2013 bank reserves ________ because of ________
A) rose to around 88 percent; the financial crisis of 2008-2009 B) dropped drastically to near zero; the financial crisis of 2008-2009 C) rose to around 18 percent; the financial crisis of 2008-2009 D) dropped drastically to near zero; the wave of natural disasters experienced in the nation and around the world E) rose drastically to around 18 percent; the wave of natural disasters experienced in the nation and around the world
The ability of capital deepening by itself to generate sustained economic growth is limited because of the law of diminishing marginal returns
a. True b. False Indicate whether the statement is true or false
The poverty rate for African Americans is:
A. greater than for any other racial or ethnic group. B. below that for whites. C. considerably lower than that for Hispanics. D. below that for persons 65 years of age or older.