Refer to the market graph below for tickets to a "Final Four" sports event. Given this market, if the event organizers pre-set the price at $20, then this action would result in a:
The graph below shows the market for tickets to a "Final Four" sports event. Assume that there is only one kind of ticket to the event.
A. Shortage of 5,000 units
B. Shortage of 55,000 units
C. Surplus of 5,000 units
D. Surplus of 50,000 units
A. Shortage of 5,000 units
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Which of the following is not a basic assumption underlying the theory of consumer behavior?
A) Consumers prefer more to less. B) Consumer preferences depend on the amounts of goods they consume as well as the amounts being consumed by other consumers. C) Goods are continuously divisible, that is, consumers can always purchase one more or one less unit of a good. D) Consumers have well-behaved preferences, that is, preference orderings are complete.
Which of the following is the most likely cause of a recession according to classical and new classical models?
a. government policy. b. unstable expectations. c. a fall in expected profits. d. an anticipated change in the money supply. e. none of the above.
Regulation began in the United States in the 1950s.
Answer the following statement true (T) or false (F)
If the real interest rate in the domestic loanable funds market increases,
What will be an ideal response?