A price floor is a government-mandated
A) minimum price below which legal trades cannot be made.
B) maximum price above which legal trades cannot be made.
C) minimum price at which all units of the good must be legally sold.
D) minimum price below which legal trades can be made.
A
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When there is a surplus in the market, the quantity sold is
A) equal to the quantity supplied. B) equal to the quantity demanded. C) less than the quantity demanded. D) greater than the quantity bought.
The primary purpose of labor unions is to
A) ensure that workers receive adequate safety training. B) negotiate with employers about wages and working conditions. C) endorse candidates and donate money to them. D) ensure that all members earn identical incomes.
Which landmark legislation made it illegal to engage in predatory pricing and also prohibited mergers if it led to weakened competition?
a. Sherman Act b. Robinson-Patman Act c. Cellar-Kefauver Act d. Clayton Act
The period from 1984-2007 has been labeled
A. the Great Depression. B. the Great Recession. C. the Great Moderation. D. the Great Slow Down.