Beginning in 1971, the Nixon administration enacted a series of price controls in hopes of reducing inflation. The first of these, known as Phase I,
a. consisted of a price freeze.
b. imposed a ceiling price on meat, but left other prices unregulated.
c. froze wages, but left other prices unregulated.
d. applied only to oil prices.
a. consisted of a price freeze.
Economics
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Refer to Figure 33-2. If the economy starts at A, a decrease in the money supply moves the economy
a. to A in the long run
b. to C in the long run
c. back to A in the long run
d. to D in the long run
Economics
The table above gives the demand for a monopolist's output. What is the marginal revenue when output is increased from 5 to 6 units?
A) $18 B) $4 C) $3 D) -$2
Economics