For a particular product, an effective price floor results in
A. quantity demanded equal to quantity supplied.
B. demand equal to supply.
C. quantity demanded greater than quantity supplied.
D. quantity supplied greater than quantity demanded.
Answer: D
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You have just been named President and Chief Executive Officer at the StrideRite Shoe Corporation. This appointment places you in the role of ________ to lower managers and ________ to the stockholders
A) principal; principal B) principal; agent C) agent; principal D) agent; agent
Which of the following statements best describes the neoclassical perspective?
a. The level of potential GDP is determined by long-term productivity growth, and the economy typically will return to full employment after a change in aggregate demand. b. The level of potential GDP is determined by short-term productivity growth, and the economy typically will return to full employment after a change in aggregate demand. c. The level of potential GDP is determined by full employment ,and the long-term productivity growth will return after a change in aggregate demand. d. The level of potential GDP is determined by full employment, and short-term productivity growth will return after a change in aggregate demand.
An outcome is said to be efficient if an economy is getting all it can from the scarce resources it has available
a. True b. False Indicate whether the statement is true or false
Which of the following would cause E1 to move to E2?
a. P1 moving to P2 and D2 moving to D1
b. S1 moving to S2 and Q2 moving to Q1
c. P1 moving to P2 and Q1 moving to Q2
d. S1 moving to S2 and D2 moving to D1