A price floor is a
a. fixed point on the supply curve that represents the lowest price a producer will accept
b. fixed point on the demand curve that represents the lowest price a consumer will pay
c. minimum price set by the government that is positioned above the equilibrium price
d. maximum price set by the government that is positioned above the equilibrium price
e. maximum price set by the government that is positioned below the equilibrium price
C
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Fiscal policies that move the economy toward potential GDP without a change in policy are called
A) spending stabilizers. B) economic stabilizers. C) GDP stabilizers. D) routine stabilizers. E) automatic stabilizers.
A monopolist faces an upward-sloping marginal cost curve. Its profit-maximizing quantity will be
a. at the minimum point of the marginal cost curve b. less than the (total) revenue-maximizing quantity c. equal to the (total) revenue-maximizing quantity d. in the unit elastic segment of the demand curve e. in the inelastic segment of the demand curve