Author Question: Refer to the above figure. If the government imposes a price floor of 20 A) the quantity traded ... (Read 129 times)

clmills979 · **on:** Jun 29, 2018

Refer to the above figure. If the government imposes a price floor of 20

A) the quantity traded will be 150, and the price will be 20.
B) the quantity traded will be 100, and the price will be 20.
C) the quantity traded will be 200, and the price will be 20.
D) none of the above.

Question 2

A positive economic statement is one that

A) can be refuted.
B) is free of the ceteris paribus assumption.
C) is based on a value judgment.
D) asserts something about the role of moral behavior in building a strong economy.