A price control is:
A) a market determined equilibrium price.
B) a non-market price imposition.
C) the price at which quantity demanded equals quantity supplied.
D) the price that maximizes social surplus.
B
Economics
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If the economy has a structural deficit of $25 billion and a cyclical deficit of $75, we can conclude that the current budget deficit is ________ billion
A) $75 B) $25 C) $0 D) $50 E) $100
Economics
In the table above, the market is in equilibrium. Then a minimum wage is set at $11 per hour. The number of workers who lose their jobs will be
A) 0. B) 1 million. C) 3 million. D) 5 million.
Economics