If the government removes a binding price ceiling from a market, then the price paid by buyers will
a. increase, and the quantity exchanged will increase.
b. increase, and the quantity exchanged will decrease.
c. decrease, and the quantity exchanged will increase.
d. decrease, and the quantity exchanged will decrease.
a
Economics
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A payment to an owner of a resource in excess of its opportunity cost is know as
A) real wages. B) economic rent. C) financial interest. D) accounting profits.
Economics
When the income distribution is described by and labeled A, what is the value of the Gini coefficient?
a. 0
b. 45
c. 1
d. 2
Economics