In the housing market, rents serve the purpose of
A) making landlords rich.
B) rationing the availability of existing housing.
C) providing an entry by the government into the housing market.
D) increasing tax collections by the community.
B
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Downward wage rigidity is likely to:
A) decrease unemployment. B) decrease wage rates. C) increase wage rates. D) increase unemployment.
Republicans in Congress pushed for the passage of the National Bank Act of 1863 because:
a. they wanted the executive branch to have more control over the amount of notes in circulation. b. they wanted to encourage a mild inflation in the U.S. c. they felt that the Act would reduce the temptation for weak administrations to over issue paper currency. d. they wanted to reduce the number of banks in the U.S.
Complementary goods
a. are usually used in conjunction with each other b. are usually used in place of one another c. do not adhere to the law of demand d. are goods whose demand rises as incomes rise e. are goods whose demand falls as wealth falls
Refer to the diagram and list of assumptions. The elimination of gender discrimination:
(1) the labor force is comprised of 9 million men and 9 million women workers;
(2) the economy has 3 occupations, X, Y, and Z, each having identical demand curves for
labor; (3) men and women workers are homogeneous with respect to their labor-market
capabilities; (4) women are discriminated against by being excluded from occupations X and Y
and are confined to Z; and (5) aside from discrimination, the economy is competitive, and
workers seek to maximize their earnings.
A. may either increase or reduce real domestic output, depending on what happens to the
level of wages.
B. will increase real domestic output.
C. will have no effect on real domestic output.
D. will reduce real domestic output.