If a government enacts a rent control to protect apartment tenants, the result is likely going to be
a. an increase in rents with a surplus of apartments.
b. an increase in rents with a shortage of apartments.
c. a decrease in rents with a surplus of apartments.
d. a decrease in rents with a shortage of apartments.
d
You might also like to view...
The formula Es/(Es - Ed) is used to calculate the
A) deadweight loss from price support programs. B) increase in consumer surplus from a price ceiling. C) fraction of a specific tax that is passed through to consumers. D) none of the above
People who use drive-through windows at restaurants and eat while on the road tend to
a. have a low opportunity cost of time b. have a high opportunity cost of time c. not maximize their utility d. act irrationally e. value their money more than their time
The population of Alpha totals one million people, 40 percent of whom are employed. Average output per worker in Alpha is $20,000. Real GDP per person in Alpha totals:
A. $12,000. B. $8,000. C. $20,000. D. $50,000.
When total utility falls, marginal utility is _____.
a. ?at its maximum b. ?positive c. ?negative d. ?infinite e. ?zero