A black market could arise as a result of:
A. The imposition of a legal price floor below the equilibrium price
B. The imposition of a legal price ceiling above the equilibrium price
C. The imposition of a legal price floor at the equilibrium price
D. The imposition of a legal price ceiling below the equilibrium price
D. The imposition of a legal price ceiling below the equilibrium price
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In Lutheria, there are 10,000 people in the age group of 0-14, 30,000 people are employed, and 2,000 people are unemployed. Lutheria's GDP, measured in luthers, is 1 billion. Income per worker in Lutheria is:
A) 33,333 luthers. B) 23,667 luthers. C) 28,999 luthers. D) 10,000 luthers.
If you sell your textbook to your friend this year, does the sale count in this year's GDP?
What will be an ideal response?