A judicial system for resolving disputes creates benefits even for people who never use it because
A) people are compelled to obey court decisions whether they want to or not.
B) judicial decisions generate uniform rules, which everyone can count on.
C) silence gives consent.
D) the social contract entitles everyone to share in the benefits from goods produced by government.
B
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Which of the following is NOT a characteristic of rent controls?
A. Fewer newly built apartment buildings. B. Greater availability of apartments. C. Lower expenditures on maintenance. D. Excess demand for apartments.
If households believe their incomes will fall in the future, the result is a
A) rightward shift in the supply of loanable funds curve. B) leftward shift in the supply of loanable funds curve. C) movement along the supply of loanable funds curve. D) movement along the demand for loanable funds curve.
In the 1970s, U.S. consumers transferred their deposits from accounts in banks and thrifts to money market mutual funds because money market mutual funds: a. were more liquid
b. were less risky. c. paid higher interest rates. d. were guaranteed for a larger amount. e. were more liquid and paid higher interest rates.
Holding all other forces constant, if increasing the price of a good leads to a decrease in total revenue, then the demand for the good must be
a. unit elastic. b. inelastic. c. elastic. d. None of the above is correct because a price increase always leads to an decrease in total revenue.