Black markets emerge during times of
A. price floors.
B. price ceilings.
C. both price floors and price ceilings.
D. neither price floors nor price ceilings.
B. price ceilings.
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Which of the following countries has experienced negative economic growth in the last 20 years?
A) Zimbabwe. B) Chad. C) The United States. D) China.
Under fiscal stabilization policy in the New Keynesian model, after a positive shock to output,
A) the government increases expenditures and the central bank increases the money supply. B) the government increases expenditures and the central bank decreases the money supply. C) the government decreases expenditures and the central bank increases the money supply. D) the government decreases expenditures and the central bank decreases the money supply.
The aggregate supply curve reflects the relationship between the price level and
a. aggregate demand b. unemployment c. real GDP d. employment e. aggregate expenditure
Suppose you have a choice between receiving a lump-sum payment of $10,000 today or four annual payments of $2,750 (with the first payment today). Of the following, which is the lowest annual interest rate at which you would prefer the lump-sum payment over the four annual payments?
a. 2% b. 5% c. 7% d. 10%