If rent ceiling is set above the equilibrium rent. . .
What will be an ideal response?
No effect. Market works when no ceiling.
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The labor force participation rate is the
A) proportion of the labor force that is unemployed. B) proportion of the noninstitutionalized adult population in the labor force. C) proportion of the labor force that is employed. D) proportion of the noninstitutionalized adult population that is employed.
If the consumption function is expressed as C = a + mpc × YD, then "mpc" represents
A) autonomous consumer expenditure. B) the marginal propensity to consume. C) the expenditure multiplier. D) disposable income.
If Luxury Cabinets, a kitchen cabinet manufacturer, builds a cabinet plant near Big Woods, a timber harvesting farm, to reduce the costs of transporting lumber, the cabinet plant is a(n) ________.
A) information asset B) negotiation asset C) transaction-specific asset D) monitoring cost
If a supply curve is perfectly horizontal, what is the value of the price elasticity of supply?