In the graph shown above, if the government set a price ceiling of $18
A. the price would rise to the equilibrium price.
B. the price would fall to equilibrium price.
C. there would be a temporary shortage, then price would rise to equilibrium price.
D. there would be a permanent shortage, at least until the price ceiling was lifted.
D. there would be a permanent shortage, at least until the price ceiling was lifted.
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On-the-job-training is an example of
A) increasing labor force participation. B) investment in human capital. C) investment in physical capital. D) technological change.
The figure above gives your budget line for magazine and CDs per month. Given that your income equals $60 per month, what is your real income in terms of CDs?
A) 3 CDs B) 5 CDs C) 6 CDs D) $60/month
Assume that seigniorage and the government's primary deficit are both zero. A change in the debt-to-GDP ratio depends on just
A) the rate of inflation and total factor productivity. B) the growth rate of real GDP and the real interest rate. C) the growth rate of the money supply and the nominal interest rate. D) the growth rate of nominal GDP and the rate of inflation.
In the short run, if price is below AC, maximizing profits really means minimizing total losses.
Answer the following statement true (T) or false (F)