If both buyers and sellers expect the price of a commodity to fall in the future, it is likely that the market clearing price ________ and the equilibrium quantity ________.
A. cannot be predicted, will fall
B. cannot be predicted, will rise
C. will rise, cannot be predicted
D. will fall, cannot be predicted
Answer: D
Economics
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A change in the wage rate causes a firm's labor demand curve to shift
a. True b. False
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Tradable allowances are like taxes in that they both:
A. maximize surplus. B. are not efficient. C. impose a quota on output. D. None of these statements is true.
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Examples of transfer payments are
A) wages, profits, and rents. B) Social Security checks and unemployment insurance payments. C) salaries of educators, police, and firefighters. D) federal government spending for national defense.
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Efficiency is another word for equity.
Answer the following statement true (T) or false (F)
Economics