An example of an ineffective price ceiling would be the government setting the maximum price of wheat at ________ per bushel when the market price is at $5.00 per bushel.
A. $2.25
B. $3.00
C. $4.75
D. $6.00
Answer: D
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Jordan recently quit her job as a marketing consultant in Washington, D.C. and is looking for a better-paying job with an advertising agency in New York. Jordan is considered to be
A) cyclically unemployed. B) structurally unemployed. C) not in the labor force. D) frictionally unemployed. E) a discouraged worker.
In the Harrod-Domar model, if the savings rate is 20% and the incremental capital output ratio is five, abstracting from depreciation, what is the implied growth rate?
What will be an ideal response?
Suppose the marginal utilities for the first three cans of soda are 100, 80, and 60, respectively. The total utility received from consuming 2 cans is
A) 20. B) 80. C) 90. D) 180.
Suppose the number of pesos per U.S. dollar is 3 . The aggregate price level in Mexico is 90, and the real exchange rate between the two countries is 2 . The aggregate price level in the United States is _____
a. 60 b. 45 c. 50 d. 55