What are some of the likely consequences of price ceilings on agricultural inputs?
What will be an ideal response?
As with output, a price ceiling on an input will create a shortage, but if the government subsidizes the producer of the input, the result will be inefficiency in production and overuse of the input.
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Marginal benefit refers to the additional benefit that your activity provides to you
Indicate whether the statement is true or false
A negative demand shock causes a ________ the IS curve and a ________ the aggregate demand curve
A) movement up along; shift to the left of B) shift to the right of; movement up along C) movement down along; movement down along D) shift to the left; shift to the left of
A monopolist in the radio industry has two radio-making plants. The marginal cost of radio production by Plant A is $4Q (where Q is the number of radios produced) and the marginal cost of radio production by Plant B is always $16. If the demand curve for radios is downward sloping, the monopolist will
A. never produce radios at Plant A. B. always produce four times as many radios at Plant B as at A. C. never produce more than four radios at Plant A. D. produce radios at Plant A only as a last resort.
The term costs of adjustment refers to the states' intentions to _______________ , which is common in the politics of international finance.
Fill in the blank(s) with the appropriate word(s).