Which of the following would be studied by macroeconomists?
A. Inflation in developing countries.
B. The effect of government subsidies on sugar prices.
C. The impact of the minimum wage on families below the poverty level.
D. The effect of rent controls on housing prices in New York City.
Answer: A
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This table shows the demand and supply schedule of a good.
According to the table shown, at a price of $2.00 quantity demanded:
A. exceeds quantity supplied and a shortage exists.
B. is less than quantity supplied and a shortage exists.
C. exceeds quantity supplied and a surplus exists.
D. is less than quantity supplied and a surplus exists.
A price ceiling is:
A. a legal maximum price. B. a legal minimum price. C. a legal maximum quantity that can be sold at a particular price. D. a legal minimum quantity that can be sold at a particular price.