A price floor set below the equilibrium price causes a surplus in the market
a. True
b. False
Indicate whether the statement is true or false
False
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The negative slope of a production possibilities frontier is a graphic representation of opportunity cost.
Answer the following statement true (T) or false (F)
Since 1925, the longest recession in the United States lasted:
A. 120 months. B. 43 months. C. 60 months. D. 21 months.
If the price of bread is zero and the price of cheese is positive, then the budget constraint between bread (on the horizontal axis) and cheese (on the vertical axis) would
a. be vertical. b. coincide with the vertical axis. c. coincide with the horizontal axis. d. be horizontal.
A legal condition under which any damages or debts incurred by a business are the owner's personal responsibility
What will be an ideal response?