Disposable income is
What will be an ideal response?
national income + transfers + taxes
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A price ceiling that is set above the equilibrium price
A) causes suppliers to raise their prices. B) is binding. C) is non-binding. D) creates a shortage.
Firms are encouraged by the profit motive to use inputs efficiently
a. True b. False Indicate whether the statement is true or false
Under the Bretton Woods agreements,
a. the IMF was created to punish countries that did not maintain fixed exchange rates. b. a system of fixed exchange rates based on gold was established. c. each country agreed to buy and sell its currency to maintain a fixed exchange rate. d. All of the above are correct.
Which of the following is the best example of a public good?
A) a regional flood control project B) a state university C) a civic center owned and operated by the government D) an amusement park like Disney World