In New York City, about 1 million apartments are subject to rent control by the local government. Rent control
A) puts a legal limit on the rent that landlords can charge for an apartment.
B) is a government policy which limits apartment rental to those people whose incomes are less than $50,000 per year.
C) is a price floor which sets a minimum rent for apartments.
D) only applies to those apartments which are owned and rented out by the local government.
A
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Refer to Figure 7-5. The efficient quantity of medical services is
A) 400. B) 800. C) 1,200. D) > 1,200.
An economic benefit of capital outflows is that they
A) create future income payment inflows. B) increase domestic investment. C) reduce domestic saving. D) reduce domestic unemployment.
If the price of inputs falls and the level of consumer indebtedness rises:
a. Price index falls, and the change in real GDP is uncertain. b. The change in price index is uncertain, and real GDP rises. c. Price index rises, and the change in real GDP is uncertain. d. Price index falls, and real GDP rises. e. Price index falls, and real GDP falls.
Some nations avoid the effects of trade deflection in a trade bloc by enforcing
A. quotas. B. trade diversion. C. trade deflection. D. rules of origin.