A price ceiling is:
A.) A lower limit on the price of a good.
B.) Above the equilibrium price.
C.) An upper limit on the price of a good.
D.) A limit on the price of goods sold abroad.
C.) An upper limit on the price of a good.
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In a model with money neutrality, a 10% increase in the money supply leads to an increase of prices by
A) more than 10%. B) 10%. C) less than 10%, but more than zero. D) zero.
The demand curve for a monopolistic competitor is based on the extent of its product differentiation and how many competitors it faces
a. True b. False Indicate whether the statement is true or false
During an economic contraction, housing and stock prices generally
a. fall, leading to a reduction in aggregate demand. b. fall, leading to an increase in aggregate demand. c. rise, leading to a reduction in aggregate demand. d. rise, leading to an increase in aggregate demand.
Retirement benefits are less like ________, and more like ________
A. private insurance; collective savings program. B. savings programs; private insurance. C. social insurance programs; social savings programs. D. None of these is true.