Over time, housing shortages caused by rent control
a. increase, because the demand for and supply of housing are less elastic in the long run.
b. increase, because the demand for and supply of housing are more elastic in the long run.
c. decrease, because the demand for and supply of housing are less elastic in the long run.
d. decrease, because the demand for and supply of housing are more elastic in the long run.
b
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In the long-run ISLM model and with everything else held constant, the long-run effect of a contractionary fiscal policy is to ________ real output and ________ the interest rate
A) not change; not change B) decrease; decrease C) decrease; not change D) not change; decrease
The Japanese economy began its development after the:
a. establishment of a monarchy b. the Tokogawa Dynasty c. The Second World War d. The Tan dynasty e. the Meiji Restoration
What is the term for a measure of happiness or satisfaction a person receives from his or her circumstances?
In the short run, how does Fed open market purchases affect interest rates?
A. increases B. decreases C. doesn't change