A price floor does not benefit producers

a. True
b. False
Indicate whether the statement is true or false


False

Economics

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A situation where quantity demanded exceeds quantity supplied is called a(n) ______.

a. substitution b. equilibrium c. shortage d. surplus

Economics

Based on the table showing income inequality in the United States, the proportion of income earned by the lowest fifth of Americans was greatest in ______.




a. 1935
b. 1950
c. 1960
d. 1970

Economics

The Phillips curve depicts the relationship between

A. aggregate demand and aggregate expenditures. B. output and the price level. C. inflation and unemployment. D. money supply and interest rates.

Economics

The graph shown demonstrates a tax on sellers. Who bears the greater tax incidence?

A. The sellers B. The buyers C. The incidence is equally shared between buyer and seller. D. The government

Economics