Question 21 Not yet answered F'oints out of 1.00 if\" Flag question A price ceiling when it is set Select one: C) a. above; excess supply C} b. below; excess demand C} c. above; excess demand 0 d. below; excess supply the equilibrium price creates Question 22 Not yet answered F'oints out of 1.00 \\7' Flag question If a data line on a graph slopes upward as it goes to the right. it is depicting that Select one: Q a. the relationship between the variables on the axes is positive. 0 b. the relationship between the variables on the axes is inverse. C} c. the relationship between the variables on the axes is negative. 0 d. as the value of one variable falls, the value of the other also fails (all else constant}. \fQuesm'" 24 Online mortgage companies have been growing in numbers and size. If all other things are equal, as a result of this growth: traditional \"013'91 banks have had to answered Points out of Select one: 1.00 _ _ _ _ _ Q a. decrease the Interest on their mortgage loans as the demand for traditional mortgage loans decreased. lg" Flag question 0 b. increase the interest on their mortgage loans as the demand for all mortgage loans increased. C} c. decrease the interest on their mortgage loans as the supply for all mortgage loans decreased. C d. increase the number of loans they make and the interest rate theyr charge. Question 25 Not yet answered Points out of 1.00 if\" Flag question How does a price oor set above the equilibrium price affect quantity demanded and quantity supplied? Select one: C) a. It results in a smaller quantity supplied than the quantity demanded. otherwise known as a shortage. C) b. It results in a greater quantity supplied than the quantity demanded. otherwise known as excess supply. C) c. It results in a greater quantity supplied than the quantity demanded. otherwise known as a shortage. C) d. It results in a smaller quantity supplied than the quantity demanded. otherwise known as excess supply. Quesm'" 26 A bill was introduced into Congress last year suggesting changes to the income tax code. Congress now passed this new tax reform act in \"013'91 the last session and over the next few years the new laws will begin to impact the nation. This is an example of what type of policy? answered Points outof Select one: 1.00 _ _ _ O a. Microeconomic monetary policy \\f' Flag question C) b. Macroeconomic monetary policy 0 c. State policies 0 d. Macroeconomic scal policy Question 27 Not yet answered F'oints out of 1.00 \\7' Flag question Which of the following statements is positive? Select one: Q a. There is a limit to the income each yearto which the FICA tax applies: but that is fair. since there is a limit to social security benefits. C} b. Social security benets are not taxed. C} c. lam absolutely positive that there is a better way. Q d. Social security payments to retirees should not be taxed. Question 28 Not yet answered Points out of 1.00 if\" Flag question Which is a true statement about marginal cost? Select one: C) a. Marginal cost is the difference (or change) in cost ofa different choice. 0 b. Marginal cost is constant C} c. The amount of benet a person receives from a good or service remains constant. C} d. It is the difference (or change) in the benetyou receive from a different choice. Question 29 Paul has two tickets to the next Texan game while Bella has two tickets to the next Rockets game. Bella values the Rockets tickets at Not yet $200 while she values the Texans tickets at $250. Paul values the Rockets tickets at $250 and the Texans tickets at $150. Allocatio answered efficiency can be improved for Paul and Bella if Points out of 1.00 Select one: Flag O a. Paul buys the Rockets tickets from Bella and keeps the Texan tickets. question O b. Paul buys Rockets tickets from Bella and Bella buys Texan tickets from Paul at a price agreeable to both. O c. Bella buys the Texans tickets from Paul and keeps the Rockets tickets. O d. Paul buys the Rockets tickets from Bella for $300 and Bella buys the Texan tickets from Paul for $350.