Earnings of a resource is termed as economic rent if:
a. it has a perfectly elastic demand.
b. it has a perfectly elastic supply.
c. it has a perfectly inelastic supply.
d. it has a perfectly inelastic demand.
e. it has no demand.
c
Economics
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A law establishing a minimum legal price for a good or service (the minimum wage for example) is known as
a. an equilibrium price. b. a price floor. c. a price ceiling. d. a price wall.
Economics
A reform introduced under Deng:
a. the Shanghai experiment b. the Great Leap c. the Cultural Revolution d. the Tang Reform e. free trade zones
Economics