Price ceilings, such as rent ceilings, set below the equilibrium price
A) increase producer surplus.
B) decrease producer surplus.
C) do not affect producer surplus.
D) might increase or decrease producer surplus.
B
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Refer to Figure 11.2. Suppose that Ca = 40, MPC = 0.8, I = 10. The slope of the consumption function is
A) 0.1. B) 0.2. C) 0.8. D) 0.9.
Refer to Figure 11-4. Suppose the per-worker production function in the figure above represents the production function for the U.S. economy
If the United States decided to cut its support of university research in half, this would cause a movement from A) B to E. B) B to D. C) B to A. D) B to C.
What is intertemporal comparative advantage?
What will be an ideal response?
In modern economies, the supply of money depends mainly on the economy's ________
A) tax rates B) mining of precious metals C) net exports D) growth of output of goods and services E) none of the above