What does the phrase "owners' equivalent rent" mean?
A. It is the price of a home.
B. It is the value of three years' worth of housing services.
C. It is the value of a year's worth of housing services.
D. It is the price of five years' worth of housing services.
Answer: C
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A disadvantage of ________made from precious metals is that it is very heavy and hard to transport from one place to another
A) commodity money B) fiat money C) electronic money D) paper money
A federal program aimed at retraining the unemployed workers of the declining auto and steel industries is designed to reduce which type of unemployment?
a. seasonal b. cyclical c. structural d. frictional
What would happen in a free market system when production of a good generates negative externalities?
A. There is a surplus of the good. B. There is a shortage of the good. C. The equilibrium quantity of the good is less than the efficient amount. D. The equilibrium quantity of the good is more than the efficient amount.
Refer to the information provided in Figure 23.9 below to answer the question(s) that follow.
Figure 23.9Refer to Figure 23.9. There is a $75 million decrease in unplanned inventories at an aggregate output level of
A. < $100 million. B. $100 million. C. $200 million. D. $300 million.