If the government set a price ceiling at $8
A. there would be 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 would fall back to the equilibrium price.
D. the price floor would not have any effect on this market.
D. the price floor would not have any effect on this market.
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An economy that is operating below its full-employment capacity is experiencing a(n):
a. tax-induced recession. b. recessionary gap. c. fiscal drag. d. market correction. e. inflationary gap.
Which one of the following statements is accurate as regards functions of a? corporation?
A. A corporation is owned by two or more partners. B. Public corporations are said to be publicly held or publicly traded. C. The stock of a public corporation is sold to founding partners only. D. Private corporations are also known as sole proprietorships. E.The stock of a private corporation is sold to anyone who has the means to buy it.
If Japan adopts an expansionary monetary policy, the value of the dollar would:
A. decrease and the U.S. trade deficit would decrease. B. increase and the U.S. trade deficit would decrease. C. increase and the U.S. trade deficit would increase. D. decrease and the U.S. trade deficit would increase.
Which of the following will most likely happen when better technology is used in production?
A) an upward movement along the production possibilities curve B) an outward shift of the production possibilities curve C) an inward shift of the production possibilities curve D) a downward movement along the production possibilities curve