To be binding, a price ceiling must be set above the equilibrium price
a. True
b. False
Indicate whether the statement is true or false
False
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Show the effects of a change in the nominal interest rate and a change in real GDP using the demand for money curve
What will be an ideal response?
Negative externalities occur when one person's actions
a. cause another person to lose money in a stock market transaction. b. cause his or her employer to lose business. c. reveal his or her preference for foreign-produced goods. d. adversely affect the well-being of a bystander who is not a party to the action.
For a competitive, profit-maximizing firm, the demand curve for labor will shift in response to a change in the
a. wage rate. b. quantity of labor demanded. c. price of the product that the firm sells. d. an increase in the supply of labor.
Full employment occurs
A) only if the unemployment rate is zero. B) only if the unemployment rate is equal to the natural unemployment rate. C) only if unemployment is equal to structural unemployment plus cyclical unemployment. D) None of the above answers are correct.