If the government imposes a binding price floor in a market, then the consumer surplus in that market will decrease
a. True
b. False
Indicate whether the statement is true or false
True
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The fear of making decisions, a form of helplessness, is termed:
a. Agoraphobia b. Decidophobia c. Ultraphobia d. Claustrophobia
A supply curve illustrates a(n) ____ relationship between ____ and ____
a. direct; price; supply b. direct; price; quantity demanded c. direct; price; quantity supplied d. inverse; price; quantity demanded
Continuous rapid growth of the money supply relative to the growth of real output will most likely lead to
a. persistent inflation. b. low nominal interest rates. c. high rates of real economic growth. d. low unemployment.
In designing a tax system, policymakers have two objectives that are often conflicting. They are
a. maximizing revenue and minimizing costs to taxpayers. b. efficiency and minimizing costs to taxpayers. c. efficiency and equity. d. maximizing revenue and reducing the national debt.