With an effective price ceiling, quantity demanded exceeds quantity supplied.
Answer the following statement true (T) or false (F)
True
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All of the following are sources of comparative advantage except
A) technology. B) climate and natural resources. C) a strong foreign currency exchange rate. D) relative abundance of labor and capital.
Which of the following is not a reason for low savings in poor households:
a. low income b. unstable income c. irrational spending patterns d. unfamiliarity with in financial institutions e. all are good reasons for low savings
If the shopkeeper goes first and quotes a low price, what is the best response of the customer?
a. Accept the low price happily b. Walk away from the deal c. Slam the storeowner's door on the way out d. Laugh at the storeowner
Which one of the following would supply dollars to the foreign exchange market?
a. the spending of U.S. tourists in Europe b. the purchase of U.S. automobiles by Japanese consumers c. the sale of U.S. automobiles to European consumers d. the purchase of an American electronics factory by a Japanese investor