How do price changes drive markets toward equilibrium?
A. They set new price floors and ceilings.
B. They increase or decrease supply or demand.
C. They ensure that prices are fair.
D. They prevent inflation or deflation.
It affects B the most.Auto answered|Score 1|jhehe|Points 385|User:
A minimum price, set by the government, that must be paid for a good or service is called a _____.
A. price wall
B. price floor
C. price field
D. price ceiling
A minimum price, set by the government, that must be paid for a good or service is called a: B. price floor.
]Auto answered|Score 1|alfred123|Points 3055|User:
How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market?
A. The price is higher.
B. The price is lower.
C. The prices cannot be compared.
D. The prices are the same.
A. The price is higher.Auto answered|Score .8182|akone|Points 140|User:
Why does a government place price ceilings, such as rent control, on some “essential” goods?
A. to prevent the development of a black market
B. to encourage an increase in supply of necessary items
C. to limit the impact of equilibrium pricing
D. to help reduce demand for these goods
D. to help reduce demand for these goods a government place price ceilings, such as rent control, on some essential goods. [http://ntiu.ulim.md/wp-content/uploads/2010/09/chapter-7.doc
]Auto answered|Score 1|Marvel2|Points 1104|User:
Big Road Inc., a private company, is hired to build and run a state’s entire road system. The company charges high fees to use its roads. It maintains the roads only in heavily populated areas. Which of the following describes this project?
A. positive externality
B. public good
C. market failure
D. negative externality
C. is correct answer, It is a monopoly, therefore market failure.Auto answered|Score 1|latefisher|Points 3420|User:
Advances in technology have reduced the cost of manufacturing MP3 players. If demand does not change,
A. more MP3 players will be sold at a higher price.
B. fewer MP3 players will be sold at a higher price.
C. more MP3 players will be sold at a lower price.
D. fewer MP3 players will be sold at a lower price
Advances in technology have reduced the cost of manufacturing MP3 players. If demand does not change C. more MP3 players will be sold at a lower price. Auto answered|Score 1|maxandrater5|Points 80|User:
Which is a real-life example of a market that is close to perfect competition?
A. a computer monopoly
B. an oil and gas cartel
C. a farmers’ market
D. a public school system
The correct answer is C. A farmers market.Auto answered|Score 1|Slayin|Points 743|User:
Which of the following programs was President Roosevelt establishing when he spoke these words?
A. Temporary Assistance for Needy Families
B. Social Security
C. War on Poverty
D. The New Deal
D. The New Deal is what President Roosevelt established when he spoke those wordsAuto answered|Score 1|gasha|Points 80|User:
You read an article in a news magazine that explains how the economy expanded for several years, and then went into a period of contraction. What is the main subject of this article?
C. the business cycle
D. voluntary exchange
C. the business cycleAuto answered|Score .92|rugmaker|Points 3193|
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