Economics Mcqs — Test 68
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Question 1
A binding price ceiling creates?
Question 2
Suppose the equilibrium price for apartments is Rs500 per month and the government imposes rent controls of Rs250 Which of the following is unlikely to to occur as a result of the rent controls?
Question 3
Which of the following statements about a binding price ceiling is true ?
Question 4
The surplus caused by a binding price floor will be greatest if ?
Question 5
Which of the following statements is true if the government places a price ceiling on petrol at Rs150 per litre and the equilibrium price is Rs100 per litre ?
Question 6
Within the supply and demand model, a tax collected from the buyers of a good shifts the ?
Question 7
Suppose that a war is fought will biological weapons. The weapons destroy people but not capital. What is likely to happen to equilibrium wages and rental rates after the war when compared to their values before the war ?
Question 8
For a price ceiling to be binding constraint on the market the government must set it ?
Question 9
An individual firm’s demand for a factor of production ?
Question 10
A competitive profit-maximizing firm should hire workers up to the point where ?