Macroeconomics > SOPHIA PATHWAY > SOPHIA PATHWAY MACROECONOMICS | All questions answered correctly | 100% score (All)
SOPHIA PATHWAY MACROECONOMICS | All questions answered correctly | 100% score
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Which statement below is true of price floors? • They generate shortages. • They lead to surpluses. • If they are above the equilibrium, they are non-binding. • Rent control is an example ... of a price floor. CONCEPT Surplus and Constraints 2 A house with an elasticity score of 3 would be considered a __________ good, while a house with an elasticity score of 0.5 would be considered a(n) _________ good. • luxury; normal • normal; luxury • normal; inferior • luxury; inferior CONCEPT Elasticity 3 Which of the following is the most significant tool the government can use to reduce the severity of business cycles? • Debt reduction • Spending • Social security [Show More]
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