A price floor is the ________
A) maximum willingness to pay for a good
B) minimum price that a seller accepts for a good
C) lower limit on the price of a good
D) upper limit on the price of a good
C
Economics
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The situation in which a person places greater value on a good as more and more people possess it is called
A) Bandwagon Effect. B) Greater Value Effect. C) Snob Effect. D) Behavioral Effect.
Economics
A recessionary GDP gap is the
A. Difference between leakages and injections. B. Sum of leakages and injections. C. Same as an inflationary gap. D. Horizontal distance between full-employment GDP and equilibrium GDP.
Economics