The services of real estate brokers are provided in a competitive market. If the state Board of Realtors enacts several requirements that limit the number of real estate brokers, then social welfare will most likely
A) not change but there will be a transfer from consumer to producer.
B) not change but there will be a transfer from producer to consumer.
C) decrease although producers are made better off.
D) decrease although consumers are made better off.
C
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In the economy of Briskland, the commercial banks have deposits of $500 billion. Their reserves are $50 billion, 80 percent of which is in deposits with the Central Bank
There is $20 billion in Central Bank notes outside the banks, and there are no coins. a) What is the monetary base? b) If all the deposits are money, what is the total quantity of money? c) What is the banks' reserve ratio? d) What is the currency drain as a percentage of the quantity of deposits?
Refer to Figure 27-6. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, Congress and the president would most likely
A) increase taxes. B) raise interest rates. C) increase oil prices. D) increase the money supply and decrease the interest rate. E) increase government spending.
According to the quantity theory of money, the inflation rate equals
A) real output minus the money supply. B) the growth rate of the money supply minus the growth rate of real output. C) the growth rate of real output minus the growth rate of the money supply. D) the money supply minus real output.
The expected value of litigation is the expected value of the ________ from litigation for the plaintiff and the expected value of the ________ from the litigation for the defendant.
A) loss; loss B) gain; gain C) loss; gain D) gain; loss