If a rent ceiling is below the equilibrium rent, some allocation scheme must be used. The allocation methods include all of the following EXCEPT
A) charging the equilibrium rent.
B) refusing to rent to individuals on the basis of sex, race, or some other attribute.
C) requiring a payment, such as key money, in addition to the rent.
D) the creation of a black market.
E) increased search activity.
A
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In the United States, the poorest 20 percent of households receive about ________ percent of total income
A) 15 B) 20 C) 3 D) 49 E) 23
When an economy is at its natural rate of unemployment, which of the following will be true?
A) Only structural unemployment as a result of technological change will exist in the economy. B) The labor force participation rate will be 100%. C) The unemployment rate will be greater than 0%. D) The unemployment rate will be 0%.
Consider the Taylor rule for the target of the federal funds rate
Suppose the equilibrium real federal funds rate is 2 percent, the target rate of inflation is 3 percent, the current inflation rate is 3 percent, real GDP equals potential real GDP, and the weights are 1/2 for the inflation gap and the output gap. Using the Taylor rule, what does the target for the federal funds rate equal? Next, if the Federal Reserve lowered the target for the inflation rate to 1 percent, how much would the target for the federal funds rate change?
Which fundamental economic question is most closely related to the issues of income distribution and poverty?
a. The What to Produce question. b. The Why to Produce question. c. The How to Produce question. d. The For Whom to Produce question.