What is the difference between a price support and a price floor?
A) A price support is below equilibrium; a price floor is above it.
B) A price support is above equilibrium; a price floor is below it.
C) Government buys the excess supply to maintain a price floor, but not a price support.
D) Government buys the excess supply to maintain a price support, but not for a price floor.
E) There is no difference between the two.
D
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In part, a country's current account measures
A) its current debt as opposed to its long-term debt. B) borrowing and lending activity between the country's residents and foreigners. C) net increases and decreases in a country's holdings of foreign currency. D) receipts from the sale of goods and services to foreigners and payments for goods and services bought from foreigners.
Which of the following is not a depository institution?
a. A commercial bank b. A thrift institution c. A pension fund d. A savings and loan institution e. A credit union
The "Made in the USA" campaign was popularized by unions in an effort to influence which determinant of demand?
A. Incomes B. Prices of related goods C. Expectations of future prices D. Preferences
Which of the following is true of the demand curves shown below?
A. All of them have constant price elasticity. B. Curves (1) and (3) have constant price elasticity. C. None of them have constant price elasticity. D. Curves (2) and (3) have constant price elasticity.