Total surplus in a market will increase when the government
a. imposes a tax on that market.
b. imposes a binding price floor on that market.
c. removes a binding price ceiling from that market.
d. None of the above is correct.
c
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In considering the relationships between price and quantity demanded, ceteris paribus directs the economist to assume that
A) price increases affect quantity. B) quantity increases affect prices. C) either price nor quantity affect demand. D) all other variables remain unchanged.
Which of the following is not a category of state and local government outlays?
A) purchases of goods and services B) grants in aid C) transfer payments D) interest payments
Which of the following could create a cost advantage for a? monopoly?
A) better technology B) lower friction due to better organization C) standardization D) All of the above
The first structured investment vehicle (SIV) was set up by ________ in 1988
A) J.P. Morgan B) Chase C) Citigroup D) Goldman Sachs