If a city suddenly and unexpectedly abolishes all property taxes on residential property, which consequence is most likely to be observed first?
A) Higher rents for residential space
B) Higher sale prices for residential property
C) Lower rents for residential space
D) Lower sale prices for residential property
E) More conversion of apartments to condominiums
B
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Why would large department stores such as Home Depot rather face shortages than increase the prices of basic food and repair items in cases of natural disasters such as Hurricanes?
a. They do not want to increase sales b. They are maximizing sales c. They do not want to be viewed as unfair d. All of the above
A_____ level of trade indicates that a good portion of the nation’s ______ is exported.
a. low; production b. high; production c. high; capital d. low; capital
Why is the overall world population still increasing? What are the expectations for population growth in the future?
What will be an ideal response?
The high cost of advertising during the Super Bowl will
A) not affect the efficient level of output because advertising is a sunk cost. B) will affect the efficient level of output because profits will fall significantly. C) not affect the efficient level of output because advertising is a fixed cost. D) Not enough information given.