If property taxes were increased in a city, what would be the most likely effect on residential rents after two or three months? They would probably
A) fall.
B) rise in proportion to taxes.
C) rise more than in proportion to taxes.
D) stay roughly unchanged.
D
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If the goods' money prices do not change, an appreciation of the dollar against the pound
A) makes British sweaters cheaper in terms of American jeans. B) makes British sweaters more expensive in terms of American jeans. C) doesn't change the relative price of sweaters and jeans. D) makes American jeans cheaper in terms of British sweaters. E) makes British jeans more expensive in Britain.
The value of a producer's output minus the value of the inputs it purchases from other producers is called the producer's
A) surplus. B) profit. C) value added. D) gross product.
During the early 1930s, the Fed was reluctant to rescue nonsolvent banks out of fear of encouraging:
A) moral hazard B) adverse selection C) bank run D) sovereign debt crisis
A technological advance may come in either the form of a product or a process innovation
a. True b. False Indicate whether the statement is true or false