Who gains and who loses from rent controls?
What will be an ideal response?
Those who gain are people who live in an apartment at a rent below market level. The benefits are less if they live in their apartment because of the lower rents and would really prefer to live in an apartment with different amenities. Landlords lose income. People who want to rent an apartment but cannot find one or who live in an apartment very different from what they really want lose also.
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Which of the following will not increase a nation's real GDP?
A. number of workers B. average price level C. technological progress D. labor productivity
Jill, an economics student, has already spent 5 hours cleaning her room. In deciding whether or not to continue cleaning for another hour, she applies the economic principle of
A) scarcity. B) ceteris paribus. C) choosing at the margin. D) productivity.
Limits on a country's ability to use aid effectively are referred to as its
a. absorptive capacity b. bilateral aid c. conditionality d. grant element e. none of the above
The rarest migration pattern is for people to move permanently from
A) poor countries to richer countries. B) poor countries to other poor countries. C) rich countries to poor countries. D) rich countries to other rich countries.