Ration coupons are often associated with price ceilings because they
a. substitute for dollars in the purchase of goods
b. restore prices to equilibrium
c. compensate for the producers' lost opportunities
d. are used to allocate goods under conditions of excess demand
e. enable producers to produce beyond equilibrium levels without suffering the consequences of lowering prices
D
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Economists measure the "openness" of an economy in terms of
A) its immigration policies. B) how often it holds free elections. C) the percentage of foreign-born workers in its labor force. D) how much it trades with other economies.
Cowboy Hat Markets Cody's Cowboy Hat Emporium has two stores Fort Worth, TX. One in the Stockyards area that caters to tourists and another a mile further north that caters to ranch hands. Why doesn't Cody sell to both customer types out of one store?
Given that the firm wants to sell both the versions, how high can the no-name brand be priced?
a. $30 b. $40 c. $60 d. $70
If you hear that unemployment increased by 2 percentage points to 4 %in the past year, while the labor force participation rate and the population remained constant, it means:
A. twice as many people are without work than was the case a year ago. B. unemployment doubled in the past year. C. there was a 100 percent increase in unemployment. D. All of these are true.