Which of the following is a result of a rent ceiling set below the equilibrium rent? I. equity in the housing market II. efficient allocation of resources III. a shortage of housing units
A) I and II
B) I and III
C) II only
D) III only
D
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If the marginal utility of apples exceeds the marginal cost of producing apples, then in a free market production of apples will ____, with the likely result that marginal utility will ____.
A. rise; fall B. fall; rise C. rise; rise D. fall; fall
In the money market, an increase in money supply will: a. increase the demand for money at each interest rate
b. decrease the demand for money at each interest rate. c. encourage people to exchange money for interest-bearing assets. d. encourage people to exchange interest-bearing assets for money. e. increase the interest rate.
If Country A's central bank wanted to increase the value of its currency, its overall balance would:
a. Become more negative. b. Become more positive. c. Not change. d. Change only if there were no offsetting changes in the net errors and omissions account.
The government considers a market to be unconcentrated if its HHI number is less than ____, and highly concentrated if that number exceeds ____.
A. 1,000; 2,500 B. 100; 9,000 C. 50; 500 D. 500; 1,300