Which of the following does NOT cause a shift in demand?

A. change in tastes
B. change in the price of a related good
C. change in the price of the good
D. change in income


Answer: C

Economics

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Price ceilings have to be set above the undistorted market equilibrium price in order to have any impact.

Answer the following statement true (T) or false (F)

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The current supervisory practice toward risk management

A) focuses on the quality of a bank's balance sheet. B) determines whether capital requirements have been met. C) evaluates the soundness of a bank's risk-management process. D) focuses on eliminating all risk.

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Which of the following is a fundamental characteristic of the market system?

A. Property rights. B. Central planning by government. C. Unselfish behavior. D. Government-set wages and prices.

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Cartel agreements are more likely to break down when

A. participating firms earn huge profits. B. new firms enter the market. C. there are few variations in market demand. D. none of these.

Economics