Refer to the above figure. A price control has been set which has led to a surplus. This means that a
A. price floor has been set at P1.
B. price ceiling has been set at P2.
C. price floor has been set at P2.
D. price ceiling has been set at P1.
Answer: A
You might also like to view...
Contracts are enforced by
a. the firms that make the contracts through buy-out clauses b. law firms that specialize in contract enforcement c. corporations specializing in contract writing and enforcement d. the government through the judicial system e. both households and firms through customer relations departments
Which of the following is true?
a. The size of the national debt currently is about the same size as it was during World War II. b. The national debt increases in size whenever the federal government has a surplus budget. c. The national debt's size decreased steadily after 1980. d. The current U.S. national debt is over $16.0 trillion.
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If three microwave ovens are produced, average variable costs are
A. $50. B. $66.67. C. $100. D. indeterminate from this information.
The most powerful person at the Fed is
a. a director of a Federal Reserve bank b. a member of the Board of Governors c. a district bank president d. the president of the U.S. e. the chairman of the Board of Governors