How many countries are in the European Union?
A) 28
B) 6
C) 21
D) 17
A
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Price ceilings, such as rent ceilings, set below the equilibrium price
A) increase producer surplus. B) decrease producer surplus. C) do not affect producer surplus. D) might increase or decrease producer surplus.
Which of the following would most likely be provided by a natural monopoly?
A) Michigan Radio is the state's most listened-to public radio service. B) Sirius Satellite Radio is accessed through a subscription. C) X96 is an alternative radio station out of Salt Lake City. D) a Mariah Carey CD
"Supply creates its own demand" is known as
A) Smith's law. B) Say's law. C) the circular flow. D) the Ricardian dilemma.
Given a fixed nominal interest rate on a loan, unanticipated deflation: a. decreases the burden of paying off the loan
b. increases the burden of paying off the loan. c. does not alter the burden of paying off the loan. d. has an indeterminate effect on the burden of paying off the loan.