Which of the following would happen if a law were passed imposing a price ceiling that holds the interest rate charged on credit cards at a rate below the prevailing market rate?
a. The quantity demanded of credit card debt will decrease from its original level.
b. The quantity supplied of credit card debt will increase from the original level.
c. The quantity demanded will exceed quantity supplied.
d. The quantity demanded and supplied of credit card debt would not change.
c. The quantity demanded will exceed quantity supplied.
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Explain what it means to have a mixed-strategy equilibrium in a zero-sum game. What happens if a player deviates from this mixed-strategy equilibrium?
What will be an ideal response?
The ____________ was designed to raise revenue and achieve mercantilist goals, while the ____________ was simply intended to raise revenue
a. Sugar Act; Tea Act b. Tea Act; Molasses Act c. Sugar Act; Stamp Act d. Stamp Act; Hat Act