An investment that provides a high average annual return is one that:
a) is generally more risky.
b) has no risk.
c) is generally very safe.
d) has an unknown level of risk.
Ans: a) is generally more risky
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The arrival of Michael Jordan, Larry Bird, and Magic Johnson in the 1980s increased the popularity of pro basketball. This led to
a. an increase in the equilibrium quantity of professional basketball b. a decrease in the equilibrium quantity of professional basketball c. a decrease in the price of professional basketball tickets d. a decrease in pro basketball players' salaries e. an increase in the price of professional basketball tickets but no change in game attendance
In a housing market with no rent ceilings, the equilibrium rent is that for which the quantity of apartments demanded
A) equals the quantity supplied. B) is greater than the quantity supplied. C) is less than the quantity supplied. D) might be greater than, equal to, or less than the quantity supplied depending on whether the supply curve is upward sloping, horizontal, or vertical. E) None of the above answers is correct because without rent ceilings there is no equilibrium rent.
An ad valorem tax on demanders causes the _____ to shift by a constant _____
a. supply curve; percentage b. supply curve; amount c. demand curve; percentage d. demand curve; amount
Bureaucrats who believe in the mission of their bureaus will want to maximize their bureau's budgets to further their perception of the public interest
a. True b. False