Most economists believe price ceilings ______________
A. do more harm than good.
B. have no impact on the market.
C. do more good than harm.
D. are necessary to protect consumers.
A. do more harm than good.
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In 2008, the many people became unable to make payments on their mortgages and instead defaulted on them. As a result, the ________ of loanable funds curve shifts ________ and real interest rate ________
A) supply; leftward; increases B) demand; leftward; increases. C) supply; rightward; falls. D) demand; rightward; decreases.
Suppose a Dell computer that sells for $2,000 in the U.S. is exported to the Netherlands. If the exchange rate is 2 Dutch guilders per U.S. dollar, then according to purchasing power parity theory, what would be the Dutch guilder price of the computer in the Netherlands?
a. 5000 guilders b. 1000 guilders c. 2000 guilders d. 4000 guilders
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
When a group of people stand to gain from an action that is not rational for any of the members to undertake individually, it is referred to as a:
A. free-rider problem. B. collective-action problem. C. moral hazard problem. D. societal-wellbeing problem.