Assume a ceiling price is set above the equilibrium price. The final result is the equilibrium price
a. True
b. False
Indicate whether the statement is true or false
True
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Which of following is an example of a homogeneous product?
A) Gasoline B) Copper C) Personal computers D) Winter parkas E) both A and B
The number of people officially unemployed is not the same as the number of people who can't find a job because:
a. the armed forces is included. b. some people have jobs but continue to look for a better one. c. some people who can't find a job become discouraged and quit looking. d. none of these.
A good is said to be overproduced in an economy if
A. the social marginal cost exceeds the social marginal benefit. B. the production of the good generates a positive externality. C. the marginal cost of producing the good is less than its price. D. the marginal benefit derived from the consumption of the good is more than the price.
Crowding out may occur because ________ fiscal policy usually involves the government ________ money.
A. expansionary; lending B. contractionary; borrowing C. contractionary; lending D. expansionary; borrowing