Which group of individuals most likely benefits from rent controls?
A) the unemployed who fail to obtain rental housing
B) low-income wage earners who fail to obtain rental housing
C) single parent families without savings or other financial assets who fail to obtain rental housing
D) upper-income professionals who rent apartments at the price ceiling rate
D
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To test joint linear hypotheses in the multiple regression model, you need to
A) compare the sums of squared residuals from the restricted and unrestricted model. B) use the heteroskedasticity-robust F-statistic. C) use several t-statistics and perform tests using the standard normal distribution. D) compare the adjusted R2 for the model which imposes the restrictions, and the unrestricted model.
Place point Y on the graph to indicate a deep depression.
Deflation is bad because:
A. wages decline. B. prices decline. C. monetary policy becomes impotent. D. fiscal policy becomes impotent. E. deflation is not bad.
Asymmetric information exists in the market for used cars because:
A. sellers have better information concerning the quality of used cars than buyers. B. buyers have better information concerning the quality of used cars than sellers. C. buyers and sellers have equal information concerning the quality of used cars. D. it is impossible for buyers or sellers to determine the quality of used cars.