Which of the following public policies is an example of a price ceiling?
A) Support prices for agricultural commodities
B) Minimum wage laws
C) Rent control program
D) all of the above
C
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Which of the following is an industry without significant barriers to entry?
a. Electricity generation b. Natural gas distribution c. Cable television provision d. Corn farming e. Postal services
The marginal resource cost is the amount by which an additional unit of input decreases the firm's variable costs
a. True b. False Indicate whether the statement is true or false
What role does the interest rate play in the economy? Is the distinction between real and nominal interest rates an important one in discussing these roles?
What will be an ideal response?
Most economists who have studied the health care industry have concluded that there is:
A. An under allocation of resources for health care in the United States B. An over allocation of resources for health care in the United States C. Insufficient technological progress in the medical industry D. A need for government price controls for physicians' fees