When an effective price ceiling is removed, we would expect the price of the good to:
A. decrease and the quantity demanded to decrease.
B. decrease and the quantity demanded to increase.
C. increase and the quantity demanded to decrease.
D. increase and the quantity demanded to increase.
Answer: C
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Suppose a country's net exports equal zero. Which of the following will happen if the volume of exports increases without an increase in the volume of imports?
A) The country will experience a budget deficit. B) The country will experience a trade surplus. C) The country will experience a trade deficit. D) The country will experience a budget surplus.
The Herfindahl-Hirschman Index measures market concentration in an industry by summing the square of the percentage market shares for
A) the 4 largest firms. B) the 50 smallest firms. C) the 4 smallest firms. D) the 50 largest firms. E) all firms in the market.
A best practices frontier can be used to describe short and long term strategies
Indicate whether the statement is true or false
All players have dominant strategies
a. True b. False Indicate whether the statement is true or false