If rent ceiling is set below the equilibrium rent. . .
What will be an ideal response?
It creates a housing shortage, increased search activity, and a black market.
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Suppose Warren Buffet withdraws $1 million from his checking account at Chase Bank. If the required reserve ratio is 20 percent, what is the maximum change in deposits in the banking system?
A) -$5 million B) -$4 million C) -$200,000 D) $1 million E) $5 million
How do investment banks use the results of their research?
What will be an ideal response?
Monopolistically competitive sellers are price takers
a. True b. False Indicate whether the statement is true or false