A price ceiling is a government regulation that makes it illegal to charge a price
A) below the equilibrium price.
B) above the equilibrium price.
C) for a good or service.
D) above some specified level.
E) below some specified level.
D
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The strategy profile in which both players remain silent in the Prisoners' Dilemma can be described as:
a. non-Pareto optimal and unstable. b. Pareto optimal and unstable. c. non-Pareto optimal and stable. d. Pareto optimal and stable.
Identify the correct statement regarding a fractional reserve banking system.
a. Only a fraction of the banks in the system are allowed to create money b. Only a fraction of the banks in the system have reserves. c. The claims outstanding against the bank are only a fraction of the bank's total reserves. d. Each bank must deposit a fraction of its reserves with the Federal Reserve Bank. e. Bank reserves represent only a fraction of bank deposits.