The three major responsibilities of the European Parliament are legislative power, control over the budget, and supervision of executive decisions
a. true
b. false
a. true
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What relationship is shown by a supply curve?
What will be an ideal response?
One economist has argued that rent control is "the best way to destroy a city, other than bombing." Why would an economist say this?
a. He fears that low rents will cause low-income people to move into the city, reducing the quality of life for other people. b. He fears that rent control will benefit landlords at the expense of tenants, increasing inequality in the city. c. He fears that rent controls will cause a construction boom, which will make the city crowded and more polluted. d. He fears that rent control will eliminate the incentive to maintain buildings, leading to a deterioration of the city.
During the Great Depression in the 1930s the banking industry was crippled so badly that nearly ________ of the banks failed.
A. 20% B. 33% C. 50% D. 25%
Monopolistically competitive firms:
A. earn zero economic profits in both the short run and the long run. B. can earn economic profits or losses in both the short run and the long run. C. earn economic profits in the short run but zero economic profits in the long run. D. can earn either profits or losses in the short run but earn zero economic profits in the long run.