When a binding price ceiling is imposed on a market to benefit buyers,
a. no buyers actually benefit.
b. some buyers benefit, but no buyers are harmed.
c. some buyers benefit, and some buyers are harmed.
d. all buyers benefit.
c
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Budget deficits inevitably lead to inflation in
A) nations that are unable to borrow from the public. B) small nations. C) nations that can easily borrow from the public. D) budget deficits have no effect on inflation.
If the price of a candy bar is $1 and the price of a fast food meal is $5, then the
A) relative price of a candy bar is 5 fast food meals per candy bar. B) money price of a candy bar is 1/5 of a fast food meal per candy bar. C) relative price of a fast food meal is 5 candy bars per fast food meal. D) money price of a fast food meal is 1/5 of a candy bar per fast food meal.
Consider the market for wheat which is a perfectly competitive market. Is the market demand curve the same as the demand curve facing an individual producer? If not, explain how and why they are different? Illustrate your answer graphically
What will be an ideal response?
Life insurance companies often give applicants a physical examination to prevent
A) the person from dying before obtaining the policy. B) signaling. C) adverse selection. D) profit maximization.