Using the figure at? right, when the government imposes a price ceiling of? $20,
A. the quantity of goods that will be traded is 100.
B. the quantity of goods that will be traded is 150.
C.the quantity of goods that will be traded is 200.
D.the quantity of goods that will be traded is 0.
Answer: A. the quantity of goods that will be traded is 100.
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In the New Keynesian model, the central bank achieves its interest rate target
A) by announcing it. B) by closing the output gap. C) through money growth targeting. D) by the supplying the quantity of money demanded at the target interest rate.
A constant-cost industry is distinguished by the fact that
a. firms' long-run average cost curves are horizontal b. firms' short-run marginal cost curves are horizontal c. firms' short-run average total costs are horizontal d. the short-run industry supply curve is perfectly elastic e. the long-run industry supply curve is perfectly elastic
The principle that irrelevant detail should not be included in a model is known as
A. Ockham's razor. B. a fallacy. C. ceteris paribus. D. normative economics.
If a vineyard wants to raise funds to purchase a new bottling machine, it does so in the
A) output market. B) product market. C) factor market. D) alcoholic beverages market.