When there is a stock market boom, stockholders have capital losses.
Answer the following statement true (T) or false (F)
False
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A rent ceiling on housing creates a problem of allocating the available housing units because
A) the demand for housing decreases and the demand curve shifts leftward. B) the supply of housing increases and the supply curve shifts rightward. C) a shortage of apartments occurs. D) a surplus of apartments occurs. E) it eliminates search, which is one of the major ways housing units are allocated.
Suppose people buy more of good 1 when the price of good 2 falls. These goods are
A) complements. B) substitutes. C) normal. D) inferior.
The Federal Reserve ________ pay interest on reserves held on deposit. The European System of Central Banks ________ pay interest on reserves held on deposit
A) does; does B) does; does not C) does not; does D) does not; does not
Marginal cost:
A. is calculated as change in total cost divided by change in total output. B. is calculated as change in total output divided by change in total cost. C. increases then decreases, as output increases, to reflect marginal product. D. None of these is true.