One way to cope with chronic excess demand is to
a. simply give the goods away for free
b. force parity between the quantity demanded and the quantity supplied
c. issue ration coupons for the quantity supplied
d. lower the price ceiling
e. impose crop limitations
c. issue ration coupons for the quantity supplied
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Which of the following is a reason that the Fed does not traditionally attempt to limit asset price bubbles?
A. The Fed’s actions could do more harm than good. B. It is nearly impossible to determine if a bubble exists before it bursts. C. The Fed’s policies cannot be targeted at only one sector of the economy. D. All of these responses are correct.
Which of the following does NOT contribute to an increase in productivity?
A.) Technological advances. B.) High quality of capital. C.) High quantity of labor. D.) Highly skilled labor.
It takes Juan 1 hour to wash a car and 2 hours to wax it. Maria, on the other hand, takes 1 hour to wash a car and half an hour to wax it. If they divide the work, _______ would specialize in washing since his/her opportunity cost is _________ for that activity.
) Maria; lowest b) Juan; highest c) Juan; lowest d) Maria; highest
Which of the following is a base on which taxes are levied in the United States?
A. property B. income C. sales D. all of the above