When a price ceiling is imposed in a market,
a. a persistent shortage results
b. a persistent surplus results
c. sellers of the product are made better off
d. no one is made better off
e. quantity supplied is greater than the quantity demanded
a. a persistent shortage results
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Higher price levels will eventually lead to lower interest rates as people reduce their demand for money
a. True b. False Indicate whether the statement is true or false
The adult population in Norland is 50 million. Among these adults, 20 million are employed and 10 million are unemployed. Determine the following. I. Labor force of Norland II. Unemployment rate in Norland III. Labor-force participation rate in Norland
Which of the following is an exogenous variable in the Three-Sector-Model?
a. GDP price index b. Real risk-free interest rate c. Required reserve ratio d. Quantity of currency per time period e. Real GDP
The money supply will grow even larger through deposit creation when
A. People decide to use cash instead of checks for transactions. B. Interest rates rise, causing people to move money out of banks and into bonds. C. Banks stop making new loans because they are too risky. D. Consumers, businesses, and government increasing their borrowing.