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bonge4379 bonge4379
wrote...
Posts: 521
Rep: 0 0
6 years ago
A price ceiling imposed on a good that is below the equilibrium price will result in a shortage of that good.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following would mostly likely shift the production possibilities curve in an outward direction?
 a. a decrease in the current rate of unemployment
 b. a movement along the curve sacrificing capital goods for consumption goods
 c. an increase in the price of goods and services
 d. advances in medicine that reduce the incidence of disease and lengthen productive life spans

Question 3

An increase in disposable income would tend to shift aggregate demand right.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 4

A price floor does not benefit producers.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 5

When more resources in an economy are devoted to the production of capital goods:
 a. the production possibilities curve shifts inward.
 b. the production possibilities curve in the current period shifts inward, but shifts outward in the future.
  c. the production possibilities curve shifts outward next in the future.
 d. the production possibilities curve is unchanged from period to period.

Question 6

A trade deficit means that net exports are positive.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 7

A price floor is the minimum price that consumers have to pay for a particular product.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 8

When economic growth occurs it will:
 a. eventually eliminate scarcity.
 b. shift the production possibilities curve to the left.
  c. be a product of luck.
 d. often result from improved technology.

Question 9

Exports are not included in GDP because they do not reflect domestic consumption.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 10

When a market is in surplus, there is pressure for the price to move upward.
 a. True
  b. False
  Indicate whether the statement is true or false
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Replies
wrote...
6 years ago
Answer to q. 1

TRUE

Answer to q. 2

d

Answer to q. 3

TRUE

Answer to q. 4

FALSE

Answer to q. 5

c

Answer to q. 6

FALSE

Answer to q. 7

TRUE

Answer to q. 8

d

Answer to q. 9

FALSE

Answer to q. 10

FALSE
bonge4379 Author
wrote...
6 years ago
Happy Dummy I'm impressed
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