Congress imposes a price ceiling in the market for gasoline. It is below the equilibrium price. This will:
a. Lead to a surplus of gasoline
b. Lead to a shortage of gasoline
c. Decrease the demand for gasoline
d. Increase the demand for large cars
Ans: b. Lead to a shortage of gasoline
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Countries that have policies that encourage unemployment should be expected to have more unemployed workers
a. True b. False Indicate whether the statement is true or false
The Bitcoin:
a. Is an example of VCU1. b. Is an example of VCU2. c. Is an example of VCU3. d. Is an example of VCU4. e. None of the above because the Bitcoin is not a virtual currency.
Which of the following statements is true?
A) A budget deficit occurs when government expenditures exceed tax receipts during any single year. B) The public debt is the total amount the federal government owes its creditors. C) The public debt is greater than the net public debt. D) b and c E) a, b, and c
Most of the public debt is owed to citizens and domestic institutions. This is one reason that the public debt:
A. has a procyclical economic effect on the economy. B. can result in the bankruptcy of the federal government. C. crowds out private investment. D. does not impose a burden on future generations.