Rent control makes apartments:
A. be in excess demand.
B. easy to find.
C. hard to find.
D. less desirable.
Answer: C
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The utilitarianism, Rawlsian, and benefits-received arguments all favor a ________ tax system
A) regressive B) progressive C) proportional D) value-added
Which of the following would probably not result in acquiring human capital?
A. Taking an economics course. B. Learning how to make chicken parmigiana. C. Playing varsity soccer. D. Purchasing a new piece of machinery.
Table 36-2 ? Domestic ? ? ? GDP Expenditure ? Exports Imports Total Expenditures (Y) C+ I + G (X) (IM) C+ I + G + (X?IM) $2,500 $3,100 $650 $250 _____ 3,000 3,400 650 300 _____ 3,500 3,700 650 350 _____ 4,000 4,000 650 400 _____ 4,500 4,300 650 450 _____ 5,000 4,600 650 500 _____ 5,500 4,900 650 550 _____ In Table 36-2, what is equilibrium GDP?
A. $2,500 B. $3,500 C. $4,500 D. $5,500
When supply and demand for a product increase simultaneously, we
A. cannot predict the market clearing price, but know that the equilibrium quantity will increase. B. can predict that both the market clearing price and the equilibrium quantity will increase. C. can predict that both the market clearing price and the equilibrium quantity will decrease. D. cannot predict the change in either the equilibrium quantity or the market clearing price.