Which of the following is a problem with the price system that can lead to fluctuations in output?
A) The price system works silently in the background.
B) Prices may be flexible.
C) Prices can be slow to adjust.
D) all of the above
C
Economics
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The figure above shows the housing market in the city of Appleville. A rent ceiling of $650 per month is imposed. With the rent ceiling, what is the maximum black market rent in Appleville?
A) $650 per month B) $700 per month C) $750 per month D) $800 per month
Economics
The Board of Governors of the Federal Reserve consists of seven members, each of which are
A) appointed by the president of the United States. B) elected by the public every two years. C) presidents of one of the 12 regional Federal Reserve Banks. D) CEOs of commercial banks within each Federal Reserve district.
Economics