Rent control may lead to lower rents for those who find housing, but the quality of the housing may also be lower
a. True
b. False
Indicate whether the statement is true or false
True
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Which one of these economists studied the relationship between income and food consumption?
a. Schumpeter b. Friedman c. Jevons d. Malthus e. Engel
The central bank of the United States is the
a. Federal Reserve Banking System b. First National Bank c. Comptroller's Bank d. United States National Bank e. U.S. Treasury Bank
According to new classical economists, policies should be introduced suddenly to surprise the economy in order to
A. Prevent political lobbying that results in goal conflicts. B. Minimize design problems that impede the implementation of policy. C. Avoid the lags associated with policy announcements. D. Prevent anticipatory behavior that defeats the purpose of the policy.
Last year the price of a dozen eggs was $2, and this year the price is $2.60. Which of the following does NOT express this price change accurately?
A. The price increased 30 percent. B. The price increased by 60 cents. C. If this year is the base year, the index number for last year would be 130. D. If last year was the base year, the index number for this year would be 130.