An effective price ceiling will be set above the equilibrium price.
Answer the following statement true (T) or false (F)
False
You might also like to view...
In order to formulate whether or not the alternative hypothesis is one-sided or two-sided, you need some guidance from economic theory
Choose at least three examples from economics or other fields where you have a clear idea what the null hypothesis and the alternative hypothesis for the slope coefficient should be. Write a brief justification for your answer. What will be an ideal response?
In 1820 the country with the highest per capita GDP was ______________________. In 1900 the country that ranked #1 in terms of per capita GDP was ___________________ and fifty years later the top ranking was held by _________________________
A) the Netherlands; New Zealand; the United States. B) the Netherlands; Australia; Switzerland. C) the United States; the United States; the United States. D) Austria; Australia; New Zealand.
The effect of higher wages on the individual supply of labor is ________ and the effect of higher wages on the market supply of labor is ________.
A. ambiguous; to increase the quantity supplied B. to increase the quantity supplied; ambiguous C. ambiguous; to decrease the quantity supplied. D. to decrease the quantity supplied; ambiguous
Under a gold standard, if the U.S. has a trade deficit with Japan,
A. the U.S. would receive gold from Japan, the Japanese money supply would decline, and the price level would fall in Japan. B. the U.S. would receive gold from Japan, the U.S. money supply would increase, and the U.S. price level would rise. C. the U.S. would lose gold to Japan, the U.S. money supply would increase, and the price level in the U.S. would increase. D. the U.S. would lose gold to Japan, the U.S. money supply would decline, and the U.S. price level would fall.