When a binding price ceiling is imposed on a market to benefit buyers,
a. every buyer in the market benefits.
b. every buyer and seller in the market benefits.
c. every buyer who wants to buy the good will be able to do so, but only if he waits in long lines.
d. some buyers will not be able to buy any amount of the good.
d
Economics
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If Country A’s opportunity cost of corn is lower than Country B’s opportunity cost of corn, then
a. Country A has a comparative advantage in the production of corn. b. Country A has an absolute advantage in the production of corn. c. Country A should import corn from Country B. d. Country B should produce just enough corn to satisfy its own residents’ demands.
Economics
In the United States, paper money is redeemable for gold
a. True b. False Indicate whether the statement is true or false
Economics