If prices are held above the equilibrium price:
A) social surplus is maximized.
B) all firms incur losses.
C) there exists a surplus in the market.
D) there exists a shortage in the market.
Question 2
If recessions are in large part the consequence of coordination failures,
A) government must direct or control private spending to reduce instability.
B) stability cannot be achieved without the use of discretionary fiscal policy.
C) stability cannot be achieved without the use of discretionary monetary policy.
D) the economy is unlikely to respond smoothly and predictably to shifts in government policy.
A guinea pig being held
Firms Incorporated into U.S. Steel
Adolescents are preoccupied with finding their place in the social group as well as society.
In the 1960s, social psychologists did highly creative but controversial experiments. This photo, ...
Enduring Social Issues
Created Equal: A Social and Political History of the United States, Brief Edition