Rent controls often have adverse effects, including
A. too much construction of new rental units in the community.
B. income transfers from the poor to landlords.
C. too much housing in a community.
D. deterioration in the quality of existing rental units.
Answer: D
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Firms free ride on the research and development of other firms when they
A) buy a firm's newly developed product, and then give it away to consumers. B) choose a level of research and development that is inefficiently high. C) license a new technology from a firm that developed the new technology. D) use knowledge other firms have developed without paying for that knowledge.
If you buy a commemorative Princess Diana stamp issued by the British government, the purchase is considered part of
a. C b. I c. G d. X e. M
If tax revenues equal 25 percent of total output and government expenditures equal 20 percent of total output, then there is a:
A. trade surplus. B. government budget surplus. C. trade deficit. D. government budget deficit.
The Consumer Price Index basket contains
What will be an ideal response?