Which of the following is a consequence of rent controls established to keep housing affordable for the poor?
A. Less rental housing is available as prospective landlords find it unprofitable to rent at
restricted prices.
B. The quality of rental housing declines as landlords lack the funds and incentive to maintain
properties.
C. Apartment buildings are torn down in favor of office buildings, shopping malls, and other
buildings where rents are not controlled.
D. All of these are consequences of rent controls.
Answer: D
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Which of the following is a contractual saving institution?
A) The New York Stock Exchange B) Greater Illinois Savings and Loan C) Prudential Insurance Company D) Fidelity Magellan Mutual Fund
Bank A receives a deposit of $40,000 . If the value of the money multiplier in the economy is equal to 5, the bank has to maintain a minimum reserve of: a. $10,000. b. $12,000. c. $8,000
d. $9,000.
Output combinations that lie inside the production possibilities curve are characterized by efficient use of resources.
Answer the following statement true (T) or false (F)
Which statement most accurately describes economics?
A. Economics is the study of social values a society should choose. B. Economics is the study of how people make choices to satisfy their wants. C. Economics is the study of how people make money. D. Economics is the study of how to eliminate scarcity.