If the government were to remove rent controls from the New York City rental market, then
A) all would be harmony.
B) the price paid by buyers would decrease and the quantity of rental units will decrease.
C) the price received by sellers would increase and the quantity of rental units will increase.
D) the price received by sellers would decrease and the quantity of rental units will decrease.
C
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Whites are about equally divided over the cause for black poverty being racial inferiority or discrimination
Indicate whether the statement is true or false
Harry owns a hot dog stand near campus. When a pizza stand opens next to Harry's hot dog stand, he finds that he has to lower the price of his hot dogs in order to attract the same number of customers. Explain why this is the case
Suppose the price of good X increases and consumers purchase more of good Y. Which of the following statements is necessarily true about good Y? a. Good Y is a normal good
b. Good Y is an inferior good, but not a Giffen good. c. Good Y is an inferior good and a Giffen good. d. Good Y could be a normal or inferior good.
The purchase of a meal by an American tourist at La Tour d'Argen (a restaurant in Paris) would find its way into the American balance of payments as a:
A. positive entry in the current account. B. negative entry in the current account. C. positive entry in the financial and capital account. D. negative entry in the financial and capital account.