In order for a price ceiling to have an impact on a market it must be set above the equilibrium price
Indicate whether the statement is true or false
False
You might also like to view...
In the long run, the unemployment rate
A) is equal to the expected unemployment rate. B) is zero. C) can take on any value. D) is equal to the natural unemployment rate. E) must be equal to the expected inflation rate.
Sales agents being paid a fixed commission on the sales are more likely to
a. Tell their bosses that they need to price higher to make sales b. Tell their bosses that they need to price lower to make sales c. Not say anything to their boss d. None of the above
A decrease in a person's real wage necessarily means: a. lower purchasing power
b. a lower nominal wage. c. a lower personal disposable income. d. a higher nominal wage. e. a higher personal disposable income.
Italy has a comparative advantage in which product?
