When there are price ceilings, _____ tend to develop.
Fill in the blank(s) with the appropriate word(s).
shortages
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There is very little intergenerational mobility; the children of the rich stay rich and the children of the poor stay poor
Indicate whether the statement is true or false
Agriculture price supports that establish a price floor at which agricultural products may be purchased that exceeds the market clearing price
A) create a shortage of agricultural products. B) result in the quantity of these products supplied exceeding the quantity demanded at the floor price. C) benefit taxpayers, who receive subsidies from producers that the price support program forces to sell to the government at an artificially established price. D) benefit consumers, who are willing and able to purchase more agricultural products at the floor price.
The Federal Reserve may choose to monetize the debt in order to
a. reduce the burden of the national debt. b. shift the supply curve of money outward. c. shift the demand curve for money inward. d. reduce the volume of reserves in commercial banks.
A firm’s net investment will be negative if
a) the actual capital stock is less than the optimal capital stock b) the rate of return on capital exceeds the market interest rate c) the depreciation rate is less than the gross investment rate d) gross investment is zero e) its workforce is growing faster than its capital stock