Refer to the above figure. If the government imposes a price floor of $60
A. the quantity of goods that will be traded is 200.
B. the quantity of goods that will be traded is 0.
C. the quantity of goods that will be traded is 100.
D. the quantity of goods that will be traded is 150.
Answer: C
You might also like to view...
Under perfectly competitive conditions, marginal revenue is
a. greater than average revenue. b. equal to average revenue. c. less than average revenue. d. equal to the average variable cost.
What is the difference between seasonal unemployment and structural unemployment?
What will be an ideal response?
According to the interest rate effect, a decrease in the price level will
A. decrease the real value of money balances, which causes total planned real expenditures to increase. B. cause interest rates to fall, which generates an increase in borrowing, so that total planned real expenditures increase. C. increase the real value of money balances, which causes interest rates to increase, thereby reducing total planned expenditures. D. lead to a decrease in net exports, which causes total planned real expenditures to decrease.
Official data on unemployment are based on
A) a survey of households by the Bureau of the Census. B) employer data on hiring rates. C) the number of actual payments for unemployment compensation. D) the number of claims for unemployment compensation. E) the number of responses to ads in the help-wanted section of major newspapers.