Which of the following is not a characteristic of a market with a price floor?
A. Quantity demanded exceeds quantity supplied
B. Sellers offering discounts in disguised forms
C. Problem of disposal created by excess supply
D. Survival of less efficient businesses
Answer: A
You might also like to view...
In monopolistically competitive markets, products are ________ and there ________ barriers to entry
A) identical; are no B) differentiated; are no C) identical; are D) differentiated; are
Which of the following statements is (are) correct? According to United States data,
a. the rate of growth in output and labor productivity has slowed over the past two decades. b. growth in the labor force has steadily increased since 1960. c. the growth rates of capital has slowly increased since the 1960s. d. the rate of growth in output and labor productivity was slower during the 1990s. e. none of the above.
If the amount of money in circulation is $50 million and nominal GDP is $150 million, then the velocity of money is: a. 0.33
b. 2. c. 3. d. impossible to determine from the information provided.
As long as firms currently in a monopolistically competitive market are earning profits:
A. more firms will enter the market with products that are close substitutes. B. the firm will lower its price to keep out competitors. C. the government will step in to regulate prices to ensure they stay competitive. D. more firms will leave the market before the profits are competed away.