Because nothing in life is free, the cost of a price ceiling program is chronic excess supply
Indicate whether the statement is true or false
F
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Suppose the market clearing rate for apartments in Yazoo City, Mississippi is $400 per month, but a rent control is set at $600 per month. Which of the following would tend to occur in the community?
A) A shortage of apartments B) An increase in the quantity demanded for apartments C) Both of the above. D) Neither of the above.
If a bank has $1 million in demand deposits, $400,000 in reserves, and faces a 30 percent reserve requirement, the amount of money that a bank could initially create by loaning out their excess reserves is:
a. $600,000. b. $400,000. c. $300,000. d. $100,000.
If the U.S. dollar appreciates relative to the British pound, then we pay fewer dollars for a pound
Indicate whether the statement is true or false
Ceteris paribus, the quantity demanded of a good will decrease in response to:
A. Higher income. B. A higher price for the good. C. A rightward shift of the supply curve. D. A lower price for the good.