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Author Question: Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the ... (Read 42 times)

mrsjacobs44

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on: Jun 30, 2018
Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the following changes would reduce the size of the surplus?
 a. An increase in demand.
  b. A decrease in demand.
  c. An increase in supply.
  d. Any of the above.

Question 2

Barter system is less desirable than using money for exchange because:
 a. it is a more inefficient and a time-consuming process.
 b. gold and silver are risky and inconvenient to transport.
 c. it tends to promote inflation.
 d. gold and silver are relatively scarcer than other commodities.


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hollysheppard095

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

a

Answer to Question 2

a


mrsjacobs44

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

skipfourms123

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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