The above figure shows supply and demand curves for apartment units in a large city. If the city government passes a law that establishes $350 per month as the legal maximum rent, producer surplus will be
A) d.
B) d + e.
C) d + g.
D) d + c + g.
A
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In general, it is common for goods with ________ to be auctioned
A) low prices B) relatively few buyers C) a large number of buyers D) a large number of sellers
According to the text, which of the following is not a determinant of macroeconomic outcomes?
A. Technological change B. A major earthquake C. Economic growth D. An increase in the money supply
All of the following are governmental efforts to decrease poverty EXCEPT
A) Supplemental Security Income. B) the earned income program. C) transfer payments. D) tariffs.
Which of the following statements is false?
a) Income elasticity of demand is positive for inferior products. b) Income elasticity of demand is negative for inferior products. c) Income elasticity of demand is positive for normal goods. d) None of the above.