Which of the following is NOT a predictable result of a price ceiling set below the market clearing price?
A) an illegal market in the good
B) excess quantity supplied
C) excess quantity demanded
D) lines to purchase the product
B
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The early U.S. canals and railroads were built by private enterprise without the aid of governments
Indicate whether the statement is true or false
Quotas are most often supported by
A) foreign producers. B) foreign consumers. C) domestic consumers. D) domestic producers.
Suppose a monopsonist wants to hire more workers. If it has to pay the same wage to all of its workers, the:
a. marginal factor cost will fall while the wage will rise. b. wage will fall while the marginal factor cost will rise. c. difference between the wage and marginal factor cost will become smaller. d. difference between the wage and the labor supply curve will increase. e. wage and the marginal factor cost will increase.
Difficulty in prediction social sciences is the result of analyzing ____ but can be overcome by focusing on ____ groups
a. experiments; small groups b. experiments; large groups c. human behavior; small groups d. human behavior; large groups