Price gouging
a. Outlaw trade at prices above a certain price level
b. Outlaw trade at prices below a certain price level
c. Is an act of charging a high price to take advantage of shortages created by natural disasters
d. None of the above
c
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All of the following accurately describe microlending EXCEPT:
A) it involves small loans B) lending is primarily undertaken by the government C) the borrowers are people who are attempting to start or expand a small business D) many economists think it has aided economic growth in many low-income countries
Suppose that the "Millennial" generation values leisure more than past generations. We can expect a decrease in the labor supply as the Millennials enter their prime working ages
a. True b. False Indicate whether the statement is true or false
The CPI is a commonly used and closely watched measure of inflation. However, it has limitations. What are they?
What will be an ideal response?
Figure 10-3
In Figure 10-3, the perfectly competitive firm is realizing a
a.
loss equal to ABCE.
b.
profit equal to ABCE.
c.
profit equal to ABDF.
d.
loss equal to ABDF.