Which of the following examples would most likely enable a landlord to raise the rent for a rent-controlled apartment?
a. Cockroaches invest the apartment’s kitchen.
b. The U.S. cost of living increases by 5 percent in one month.
c. The pipes for the apartment’s kitchen sink spring a leak.
d. The rents in a nearby apartment building increase.
b. The U.S. cost of living increases by 5 percent in one month.
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If the reserve requirement on checkable deposits is .25, the ratio of currency held by the public to
demand deposits is .15, the ratio of time deposits to demand deposits is 3, the reserve requirement on time deposits is 0, and the ratio of excess reserves to demand deposits is 0, then the demand deposit multiplier is A) 5. B) 4. C) 3.33. D) 2.5.
If the value of the marginal propensity to consume (MPC) is 0.90, the value of the spending multiplier is:
a. 10. b. 1.1. c. 90. d. 100.
Even-handed enforcement of contracts fuels economic prosperity because it
A) increases market uncertainty and the probability of contract violations. B) promotes gains from trade by keeping transaction costs low. C) increases transaction costs. D) permits individuals to invade or infringe on the property rights of others.
Japan's remarkable economic growth in the 20th century was a result of _____.
Fill in the blank(s) with the appropriate word(s).