Which of the following statements would most economists agree with?
A. Rent controls hurt poor people and help the rich.
B. Rent controls hurt everyone.
C. Rent control allow for a more equitable distribution of resources.
D. Rent controls decrease overall societal welfare.
Answer: D
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Taxes that are enacted to mitigate the effects of negative externalities are sometimes called
a. control taxes. b. command levies. c. Pigovian taxes. d. Marshallian taxes.
If the MPC is .75, the multiplier is
A. .25. B. .75. C. 1. D. 4.
If the government purchases multiplier is 2.5 and government purchases increase by $10 billion but prices do not change, equilibrium expenditure...
What will be an ideal response?
The aggregate demand curve shows that, ceteris paribus
A. at higher price levels, total quantity of output supplied is lower. B. at lower price levels, total quantity of output demanded is higher. C. at higher price levels, total quantity of output demanded is higher. D. at lower price levels, total quantity of output supplied is lower.