Shadow prices:
A. are paid in terms of opportunity costs.
B. are set by the government.
C. exist only in black markets.
D. are illegal.
Answer: A
You might also like to view...
Explain the difference between a sole proprietorship and a partnership
What will be an ideal response?
If there is a(n) __________ in reserves, the potential change in demand deposits is __________
A) deficiency; 0 B) deficiency; positive C) deficiency; negative D) excess; negative
A consumer's budget line will rotate outward along the horizontal axis if:
a. the price of the good on the horizontal axis decreases. b. the price of the good on the vertical axis increases. c. the price of the good on the horizontal axis increases. d. the consumer's income decreases.
Unions are exempt from U.S. antitrust laws
a. True b. False Indicate whether the statement is true or false