A binding price floor is:
a. set with the aim of increasing the consumer surplus.
b. set at the equilibrium price level

Which of the following are examples of goods that have been subject to voluntary export restraints?

A) Japanese cars and Chinese solar panels B) Belgian chocolates and French wines C) French wines and cheeses D) Japanese sushi and German cars E) Taiwanese electronics and Canadian barley

Bao want to buy a new car, so she opens a new savings account and every month deposits some money there to save for a down payment. Even though it will take her a while to save up enough money, Bao knows that the money she is saving will maintain its approximate value. This scenario best illustrates money’s function as a ______.

a. means of deferred payment b. store of value c. unit of account d. medium of exchange