If the government imposes a price ceiling, then:
a. producers must charge the ceiling price.
b. the price offered by producers must be at or above the ceiling price.
c. the price offered by producers must be at or below the ceiling price.
d. producers would be inclined to increase the quantity supplied.
e. the market supply curve will shift to the right.
c
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Some illegal immigrants move back and forth across the U.S.-Mexican border. But in 2012, as many as _____ million immigrants were residing continuously in the U.S.
A. 4 B. 11 C. 20 D. 29
If a monopsony finds that its MRP is greater than its MLC, it
a. is doing the right thing to maximize profits b. should hire fewer workers to increase profits c. should hire more workers to increase profits d. should pay the workers a lower wage e. should produce less output
If an increase in the minimum wage increases workers' incomes by $75 and reduces employers' incomes by $100, while workers' spend all of their income increase but employers reduce their spending by only seventy-five percent of their income reduction, aggregate spending
A. falls by $25. B. falls by $5. C. falls by $80. D. remains unchanged.
The gravity equation uses a calculation to predict the level of bilateral trade based directly on ____ and inversely on _____.
a. wages; technology b. size of the countries' GDP; the geographic distance between the countries c. the percent of the countries' GDP in manufacturing; their level of tariffs d. the growth rates of the countries' GDP; their openness to trade