Price controls
a. are always popular with consumers because they lower prices.
b. create shortages.
c. increase producer surplus because firms can now sell a greater quantity of a good at a lower price.
d. are necessary to preserve equity.
b
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Which components of aggregate expenditure are influenced by real GDP?
What will be an ideal response?
If the natural rate of unemployment equals 5 percent and the actual rate of unemployment equals 6 percent, then cyclical unemployment equals:
A. 1.2 percent. B. 11 percent. C. 1 percent. D. -1 percent.
During the 20th century and into the 21st, the U.S. net international investment position has
A. been consistently negative. B. gone from negative to positive and back to negative. C. been consistently positive. D. gone from positive to negative and back to positive.
In the diagram, economic discrimination is best represented by point:
A. A.
B. C rather than D or E.
C. E rather than D or C.
D. F.