Which of the following statements about price controls is true?
What will be an ideal response?
Price ceilings and price floors result in a misallocation of resources.
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Which statement is true?
A. Mass production can take place without mass consumption. B. Mass consumption can take place without mass production. C. Mass production can take place without mass consumption and mass consumption can take place without mass production. D. Mass production cannot take place without mass consumption, nor can mass consumption take place without mass production.
The Dow reached a peak of over 11,000 before the collapse of the ________ bubble in 2000
A) housing B) manufacturing C) high-tech D) banking
According to Keynes, the level of consumer expenditures was a stable function of
a. national income. b. gross income. c. disposable income. d. net income. e. None of the above
Because information is costly to acquire,
a. people will rationally choose not to become fully informed when making decisions. b. people will generally choose to become as fully informed as possible when making decisions. c. people will generally choose to acquire no information that would be relevant to their decisions. d. none of the above are true.