Price controls often hurt those they are trying to help
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Refer to the figure above. What is the equilibrium employment when the labor demand curve is LD2 and the labor supply curve is LS2?
A) 10 units B) 20 units C) 5 units D) 15 units
Behavioral economics is the study of situations in which people make rational choices
Indicate whether the statement is true or false
Which of the following statements describes a shortage?
a. At a lower price, the quantity demanded is below the quantity supplied. b. At the existing price, the quantity demanded is below the quantity supplied. c. At a higher price, the quantity demanded exceeds the quantity supplied. d. At the existing price, the quantity demanded exceeds the quantity supplied.
Ceteris paribus means
A) "all variables are independent." B) "other things being constant." C) "some assumptions are unrealistic." D) "some theories are not rational."