When the government steps in to help determine prices, it is called
a. price ceilings.
b. price floors.
c. equilibrium prices.
d. price control.
d. price control.
You might also like to view...
Economists assume people's tastes are identical
Indicate whether the statement is true or false
All else equal, the flatter the marginal cost curve, the ________ sensitive quantity produced is to changes in demand and, thus the ________ valuable an accurate forecast is to the firm.
A) more; more B) more; less C) less; more D) less; less
During expansions,
a. sales fall, but profits rise. b. sales and profits rise. c. sales and profits fall. d. sales rise, but profits fall.
Which of the following would cause movement along an aggregate demand curve, all other things being held constant?
a. a price level hike b. a wage level hike c. a change in disposable income d. a change in consumer confidence