The price of $10 in the graph above represents



A. a price floor.

B. a price ceiling.

C. either a price floor or a price ceiling.

D. neither a price floor nor a price ceiling.


A. a price floor.

Economics

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If wages are "sticky downwards", then this means that during periods of high unemployment, wages will:

A. fall quickly. B. resist falling. C. resist rising. D. rise quickly.

Economics

When income taxes are ________ progressive, then output is ________ sensitive to price-level changes

A) more; more B) more; less C) less; more D) less; less

Economics

The best estimate for the size of overseas trade as a proportion of national income in 1774 is:

a. 0%-5%. b. 15%-20%. c. about 50%. d. 70%-75%.

Economics

Income expressed in current years dollars is known as

What will be an ideal response?

Economics