Rent controls unintentionally create
A) scarcity of rental units.
B) surpluses of rental units.
C) shortages of rental units.
D) market-clearing outcomes in the apartment rental market.
C
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Suppose you are a mortgage lender. Your goal is to set your rates in such a way as to maximize your profits. How would you use what you know about inflation rates and nominal and real interest rates to determine what rate to charge?
What will be an ideal response?
Expansionary monetary policy should initially change gross investment by ________.
A. more than necessary to reach full employment B. an amount determined by the money multiplier C. enough to reach full employment D. less than necessary to reach full employment
Which of the following is not true for a firm in perfect competition?
A) Price equals average revenue. B) Average revenue is greater than marginal revenue. C) Marginal revenue equals the change in total revenue from selling one more unit. D) Profit equals total revenue minus total cost.
To get personal income from national income, one must:
a. subtract out retained earnings, Social Security taxes, and transfer payments, and add in corporate business taxes. b. subtract corporate profits and Social Security taxes, and add in transfer payments and other income. c. subtract retained earnings, corporate business taxes, and transfer payments, and add in Social Security taxes. d. subtract out corporate business taxes, Social Security taxes and transfer payments, and add in retained earnings.