A good example of a price floor is:
A. rent controls on apartments in major cities.
B. general admission tickets to concerts.
C. the minimum wage law.
D. food stamp regulations.
Answer: C
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Explain how affirmative action programs can produce both desirable incentives as well as disincentives when it comes to investing in education
What will be an ideal response?
The equilibrium price for a British pound is $1.60. At a price of $1.55 per British pound, there would be excess __________ the dollar and the dollar would __________
A) supply of; appreciate B) supply of; depreciate C) demand for; appreciate D) demand for; depreciate
Suppose you received a 3 percent increase in your nominal wage. Over the year, inflation ran about 6 percent. Which of the following is true?
a. Your real wage fell. b. Your nominal wage fell. c. Both your nominal and real wages decreased. d. Although your nominal wage fell, your real wage increased. e. Both nominal and real wages increased.
It relates to Federal Reserve activities, the acronym FOMC describes the:
A. Federal Open Market Committee. B. Federal Options Market Committee. C. Federal Organization for Monetary Control. D. Federal Organization for Money Creation.