To be effective, a price ceiling must be above the equilibrium price.
Answer the following statement true (T) or false (F)
False
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What is the relationship between gross investment, net investment, and depreciation? Which measures the change in the capital stock?
What will be an ideal response?
An unregulated monopoly will
A) flood the market with goods to deter entry. B) produce only where marginal revenue is zero. C) produce in the inelastic range of its demand curve. D) produce in the elastic range of its demand curve.
Monetary policy has ________ impact on the long-run Phillips curve
A) a positive B) no C) a negative D) an unpredictable
An example of a market-facilitating legal practice is
(a) clearly established property rights. (b) corruption of government officials. (c) extensive licensing requirements for starting firms. (d) all of the above. (e) none of the above.