A market in which a price-controlled good is sold at an illegally high price is known as
A) a flooring market.
B) a ceiling market.
C) a black market.
D) a supermarket.
Answer: C
You might also like to view...
Assume the price level has risen to 110 and remains constant. Now suppose the economy finds a new equilibrium and that real GDP is at $15.5 trillion. Draw a new aggregate expenditure curve and a new aggregate demand curve to reflect the increase in spending. Indicate the new points of equilibrium with the letter D.
What will be an ideal response?
The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exception of
A. cyclical unemployment. B. structural unemployment. C. frictional unemployment. D. hidden unemployment.
Assume that taxes depend on income. The MPC is 0.5 and t is 0.5. The government spending multiplier is
A. 1.33. B. 2. C. 2.5. D. 4.
Explain the view called real business cycle theory.
What will be an ideal response?