A price ceiling imposed on a monopoly may:
A. drive the monopolist out of business.
B. lead to no shortage.
C. lead to a shortage.
D. All of the statements associated with this question are correct.
Answer: D
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The government of Lithasia ran a budget deficit of $60,000 in 2014. If the tax revenue of the Lithasian government in 2014 was $320,000,000, how much did the government spend in that year?
A) $319,940,000 B) $1,060,000 C) $320,060,000 D) $49,000,000
Which of the following Nobel laureates became known for the study of asymmetric information?
A) Michael Spence B) Ronald Coase C) George Ackerlof D) Gary Becker
A straight line tangent to a curved line at a point
a. crosses the curved line at that point b. crosses the curved line at many points c. has the same slope as the curved line at that point d. is steeper than the curve at all other points e. has a smaller slope than all other points on the curve
Which segment of the economy benefited least from the TARP bailout?
A. the very large banks. B. the homeowners. C. the insurance companies. D. financial services industry.