You Have Responsibility for Economic Policy in the Country of Freedonia.Recently,the

question 211

Multiple Choice

You have responsibility for economic policy in the country of Freedonia.Recently,the neighboring country of Sylvania has cut off all exports of oranges to Freedonia.George,who is one of your advisors,says that the best way to avoid a shortage of oranges is to take no action at all.Charles,another one of your advisors,argues that without a binding price floor,a shortage will certainly develop.Otto,a third advisor,suggests that you should impose a binding price ceiling in order to avoid a shortage of oranges.Which of your three advisors is most likely to have studied economics?

• A)George
• B)Charles
• C)Otto
• D)Apparently,all three advisors have studied economics,but their views on positive economics are different.

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Installation Fee

An Installation Fee is a one-time charge for setting up a service or equipment, commonly applied in telecommunications, utilities, and appliance purchases.

Insulated

Protected with a material that prevents heat, sound, or electricity from escaping or entering.

Square Feet

A measure of area equivalent to a square that is one foot on each side.

Irregularly-shaped

Describing an object or area that lacks a regular or uniform shape.