Which statement is true?
A. Most economists support rent control laws.
B. Usury laws and rent control are price ceilings.
C. Usury laws have never had any effect because they are set well above interest rates.
D. None of these choices are true.
B. Usury laws and rent control are price ceilings.
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Which among the following situations refers to a zero-sum game?
A) Two nations trying to strengthen their diplomatic relations B) A business firm deciding upon the terms of partnership C) Two players playing a single game of chess D) Two teams deciding on the rules of a game
The French Bakery ran a special which decreased the price of its croissants from $1.50 to $1.00. Although her money income had not changed, Toni decided to buy 2 croissants instead of her usual 1 bagel and 1 croissant
Toni's actions are explained by which of the following? A) income and substitution effects B) price effect C) consumption effect D) income effect only or substitution effect only but not both effects
China linked its exchange rate to the U.S. dollar which meant in the 2004-2007 period
A) it appreciated against most other currencies, hurting its manufacturing competitiveness. B) it depreciated against most other currencies, making its products cheaper. C) it decreased the size of its merchandise trade surplus. D) it overvalued its currency, making it hard to attract foreign investment.
Refer to the above table. At a price of $450, there is an
A. excess quantity demanded of 9,000 tablets. B. excess quantity demanded of 6,000 tablets. C. equilibrium. D. excess quantity supplied of 4,000 tablets.