What is the current level of FDIC deposit insurance per account, as of 2017?
A. $100,000
B. $250,000
C. $50,000
D. $500,000
Answer: B
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Use the figure below to answer the following question.
If a price ceiling in this market is set at P2, then
A. deadweight loss equals area d. B. no deadweight loss occurs. C. deadweight loss equals area h. D. more information is needed to find deadweight loss.
The government passes a law which doubles the wages of all workers. Aggregate supply will ________, and real GDP will ________, and the price level will ________
A) increase; remain the same; increase. B) remain the same; increase; increase. C) increase; increase; remain the same. D) decrease; increase; increase. E) decrease; decrease; increase.
In economics, scarcity means that
a. there are not enough resources for everything that people want. b. we can never feed every person in the country. c. the price of goods has increased more rapidly than the general price level. d. there is not enough of a particular good for everyone to buy all they want at the prevailing price.
Cross-price elasticity is very low in monopolistic competition.
Answer the following statement true (T) or false (F)