Which of the following is an effect of a price ceiling set below the equilibrium price?
A) Less of the good is produced with the ceiling than would be produced without the ceiling.
B) The price ceiling has no effect on the market equilibrium.
C) Consumers can buy more than they can at the equilibrium price because the ceiling price is lower.
D) None of the above answers is correct.
A
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Except for the output level for which short-run fixed capital is long run cost-minimizing, short-run average expenses incurred by the firm are higher than long run average costs.
Answer the following statement true (T) or false (F)
All of the following are problems associated with commodity money EXCEPT
A) it is a cumbersome form of payments system. B) commodities tend to have little value in and of themselves. C) its value is dependent on its purity. D) costs are incurred in certifying the purity and weight of commodity money.
The efficient markets hypothesis says that
a. only individual investors can make money in the stock market. b. it should be easy to find stocks whose price differs from their fundamental value. c. stock prices follow a random walk. d. All of the above are correct.
Money market mutual funds are ________ the M1 measure of money and ________ the M2 measure of money.
A. excluded from; excluded from B. included in; excluded from C. excluded from; included in D. included in; included in