ECON 2100 Final: ECON 2100 Kennesaw State ECON2100 Summer2010 FinalExamB
Document Summary
Econ 2100 (summer 2010 sections 05 and 06) A wealthy society has an obligation to provide free housing to all citizens (even those people with very low incomes). The u. s. government should not prevent firms from outsourcing work to foreign countries. A widespread series of price controls were enacted in the united states by the cost of living. Council in an unsuccessful attempt to combat inflation when _____________ was president. Consider a market in which the efficient level of trade is 32,000 units. If 25,800 units are traded, then deadweight loss will be positive. will be equal to zero. will be negative. may be positive or negative (it depends upon how elastic demand and supply are). If there is a decrease in the price of a good (with supply fixed), then total producers" surplus will decrease. will increase. cannot change in value. could possibly increase or decrease (it depends upon how elastic supply is).
