The quantity sold in a market will decrease if the government decreases a
a. binding price floor in that market.
b. binding price ceiling in that market.
c. tax on the good sold in that market.
d. All of the above are correct.
b
You might also like to view...
Rational utility maximizing consumers tend to:
A. buy the same bundle of goods regardless of the prices charged. B. choose the same bundle of goods regardless of their income. C. change their consumption choices when either prices or income changes. D. change their consumption choices only when both prices and income changes simultaneously.
If people base their spending decisions more on current income than on permanent income, then _____
Fill in the blank(s) with the appropriate word(s).
Among competing issues, the most important concern of economics is with the:
A. efficient use of limited productive resources to satisfy economic wants. B. degree of competition in stock and bond markets in the economy. C. issue of equality in the distribution of income and wealth among households. D. budget deficits in the domestic economy and trade deficits in the international economy.
The amount of government spending on education per public school student has ________ since 1960, and the achievement level of students has generally ________ since that time
A) increased; increased B) decreased; decreased C) increased; decreased D) decreased; increased