Rent controls are an example of a
A) price floor.
B) price ceiling.
C) price floor for the consumer and a price ceiling for the producer.
D) nonprice rationing device.
B
Economics
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When you make a routine, everyday decision it is called
a. habit b. programmed c. nonprogrammed d. geocentric
Economics
Answer the following statements true (T) or false (F)
1) Uncertainty is the result of incomplete information. 2) Probability is the chance that an event occurs. 3) It is possible for the probability of an event to be 1.50. 4) A probability distribution of a random variable is a listing of all of the possible outcomes of the random variable and the associated probabilities. 5) The larger the extent of variation, the smaller the risk.
Economics