Refer to the above diagram. A binding government-set price ceiling is best illustrated by:
A. price B.
B. price A.
C. quantity E.
D. price C.
Answer: B
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Techniques for estimating demand curves using direct observations from the marketplace are part of a family of statistical techniques referred to as:
a. legal studies. b. Econometrics. c. policy analysis. d. Economic expansion.
A technological change that enables a student to learn more French in the same amount of study time
a. causes the budget line to rotate inward b. causes an outward, parallel shift of the budget line c. shifts the "demand curve" inward d. is equivalent to a increase in the "price" of an hour spent studying French e. makes the student better off
A barrier to entry
A. usually takes the form of a cartel. B. slows or even prevents entry into a market. C. can be thought of as unrelated to monopoly. D. makes it illegal for firms to enter the industry.
In 2000, Italy's per-capita GDP was ________ percent ________ than the EU-27 average.
A. 18; higher B. 6; lower C. 36; lower D. 24; higher