If the dotted horizontal line represents the effect of a usury law, then there is a ____ of loanable funds of ___ billion dollars.
A. shortage; 100
B. surplus; 100
C. shortage; 150
D. surplus; 150
C. shortage; 150
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Tariffs tend to escalate with stages of processing
Indicate whether the statement is true or false
If the wage rate rises, labor's share in the total costs of a production process:
a. will increase. b. will decrease. c. may increase or decrease depending on the elasticity of demand for the product. d. may increase or decrease depending on the ease of substitution of other inputs for labor.
Office workers and word processing programs are complements if:
A. a decrease in the wage paid to office workers leads to an increase in the demand for word processing programs. B. a decrease in the wage paid to office workers leads to a leftward shift in the demand for word processing programs. C. they perform similar functions. D. an increase in the price of word processing programs leads to an increase in the demand for office workers.
Refer to the diagram. A government-set price ceiling is best illustrated by:
A. price A.
B. quantity E.
C. price C.
D. price B.