If price were set by the government at $3, there would be a price _____________, that would cause a ___________ of _______ units.
A. floor; surplus; 12
B. floor; shortage; 12
C. ceiling; surplus; 14
D. ceiling; shortage; 14
D. ceiling; shortage; 14
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Which of the following decreases in response to the interest-rate effect from an increase in the price level?
a. both investment and consumption b. consumption but not investment c. investment but not consumption d. neither investment nor consumption
One of the most serious weaknesses in traditional Medicare is that:
a. patients must pay a deductible every time they enter the hospital. b. the definition of an episode of illness is too restrictive. c. Part B is voluntary. d. patients are not able to choose their own physicians. e. it provides poor insurance coverage for unusually long hospital stays.
The supply curve for cars will be more elastic the:
A. greater the decline in input prices. B. greater the quantity demanded. C. longer the time interval considered. D. less able producers are to make other goods.
Illegal immigrants make up about what percent of all agricultural workers in the U.S.?
A. 10% B. 5% C. 40% D. 25%