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Author Question: To say that a price ceiling is nonbinding is to say that the price ceiling a. results in a surplus. ... (Read 346 times)

Zulu123

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on: Jun 30, 2018
To say that a price ceiling is nonbinding is to say that the price ceiling
 a. results in a surplus.
 b. is set above the equilibrium price.
 c. causes quantity demanded to exceed quantity supplied.
  d. All of the above are correct.

Question 2

A gold standard is:
 a. a measurement of the importance of a good; it indicates high quality.
 b. the basis for monetary exchange internationally.
 c. an internationally recognized means for defining currency exchange rates.
 d. a system where currency (e.g., the dollar) was defined as equivalent in value to a certain amount of gold.


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sokh

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


Zulu123

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

mjenn52

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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