Rent controls encourage investment in housing because they bring stability to the market
a. True
b. False
Indicate whether the statement is true or false
False
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If a perfectly competitive industry is in long-run equilibrium, then
A) price equals average cost. B) price is greater than average cost and equal to marginal cost. C) all firms earn the same accounting profits. D) marginal cost is less than average cost.
change in supply
What will be an ideal response?
Not a component of aggregate expenditure?
What will be an ideal response?
A nation can produce two products: tanks and cars. The table below is the nation's production possibilities schedule:Production Possibilities ScheduleProductABCDEFTanks012345Cars10009508506503500Given the production possibilities schedule above, a combination of 3 tanks and 350 cars
A. illustrates the trade-off between tanks and cars. B. is not attainable because this combination is not listed in the schedule. C. is attainable but entails some unemployment or inefficient use of society's resources. D. cannot be produced by society, given its current resources and production technology.