A price ceiling ________
A) makes it illegal to charge a higher price than the specified price
B) is more effective when it is higher
C) is necessary to maintain market equilibrium
D) occurs in housing markets only
A
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Economists who believe that the 1995-2012 rise in the average rate of productivity growth will be long lasting say that:
A. the United States is entering an era of high structural unemployment due to rapid technological change. B. technological advance creates its own supply, which in turn creates its own demand. C. innovations in computers and communications, together with global capitalism, are greatly boosting U.S. productivity and the economy's potential economic growth rate. D. technological change will require more central planning and government regulation.
Turkey joined the European Union (EU) in 2007 after implementing the necessary political and economic policy changes.
Answer the following statement true (T) or false (F)