If the government set a price floor at $24
A. there would a temporary surplus, then prices would fall to equilibrium.
B. there would be a permanent surplus, at least until the price floor was lifted.
C. the price floor would not have any effect on this market.
D. the price would rise to the equilibrium price.
B. there would be a permanent surplus, at least until the price floor was lifted.
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Which of the following statements is NOT a function of the Fed?
A) It ensures that commercial banks report their assets and liabilities with accuracy. B) It monitors the stockholders' equity of commercial banks. C) It oversees interbank payment systems. D) It regulates the various stock markets in the economy.
Which major actor is at the center of the foreign exchange market?
A) corporations B) central banks C) commercial banks D) non-bank financial institutions E) individual firms
A firm's marginal revenue product of labor curve is: a. a horizontal straight line at the market wage rate
b. equivalent to its demand for labor curve. c. a vertical line at the market price of the good it produces. d. equivalent to its supply of labor curve.
The problem of political instability has been greatest in which continent?
A. South America B. Europe C. Asia D. Africa