Rent subsidies are primarily financed by the states
a. True b. False
b
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Which of the following explains why the quantity of a good demanded decreases when its price increases? a. Consumer preferences change when the price of a good changes
b. The nominal income of consumers falls when the price of a good increases. c. Substitutes become relatively cheaper when the price of a good increases. d. Complements become relatively cheaper when the price of a good increases.
Rent controls are most often designed to protect the investment made by apartment building owners
a. True b. False Indicate whether the statement is true or false
When the Fed decreases the money supply, interest rates
a. rise, causing velocity to fall. b. fall, causing velocity to fall. c. rise, causing velocity to rise. d. fall, causing velocity to rise.
Other things held constant, after some point hiring additional units of labor will cause the marginal physical product of labor to decline because
A. the wage rate increases when additional workers are hired. B. of the law of diminishing marginal product. C. the firm is a price taker. D. the supply of labor is perfectly elastic.