Price floors, such as government price support programs, _____
a. decrease consumption
b. increase production
c. decrease production
d. a and b
e. a and c
d
You might also like to view...
The above table shows answers given by people interviewed in a government survey of households. Which individuals are considered to be a part of the labor force?
A) C and D B) B, C, and D C) A, C, and D D) A, B, and C
If the substitution effect of a wage increase dominates the income effect, the labor supply curve has a positive slope
Indicate whether the statement is true or false
Private investment as a share of the economy tends to be higher in countries
a. with low levels of economic freedom. b. with high levels of economic freedom. c. with economic freedom ratings near zero. d. that have experienced a sharp reduction in economic freedom during the most recent decade.
When the Barro model assumes lump-sum taxes, this means
a. real taxes are independent of a household's income. b. nominal taxes depend negatively on a household's consumption. c. nominal taxes depend positively on a household's income. d. there is no tax on inheritances.