A binding price floor is:
a. set with the aim of increasing the consumer surplus.
b. set at the equilibrium price level
c. set below the equilibrium price level.
d. set above the equilibrium price level.
d
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On a production possibilities curve, the opportunity cost of good X, in terms of good Y, is represented by the:
a. distance to the curve from the vertical axis. b. distance to the curve from the horizontal axis. c. movement along the curve. d. all of these.
How much would be added to this year's GDP if you sold your four-year-old automobile for $4,000 and purchased a two-year-old model from an acquaintance for $10,000
a. nothing b. $6,000 c. $10,000 d. $14,000
Members of the Board of Governors are appointed by the president of the U.S. and confirmed by the U.S. Senate
a. True b. False Indicate whether the statement is true or false
The "law of demand" indicates that if SIUC increases the price of tuition, all other things remaining the same Question 22 options:
A. the quantity of classes demanded will decrease at SIUC B. the demand for classes will decrease at SIUC C. the demand for classes will increase at SIUC D. the quantity of classes demanded will increase at SIUC