Indicate whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding. a. The government has instituted a legal minimum price of $8 each for hamburgers.
b. The government prohibits fast-food restaurants from selling hamburgers for more than $8 each.
c. There are many teenagers who would like to work at fast-food restaurants, but they are not hired due to minimum-wage laws

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?

Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.

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