One of the consequences of a rent ceiling set below the equilibrium rent is
A) decreased search activity.
B) increased search activity.
C) the establishment of landlord unions.
D) surpluses of apartments.
E) the elimination of the deadweight loss that would otherwise exist in the housing market.
B
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Under a Pareto Optimum
A) it is always possible to improve someone's welfare. B) it is never possible to improve someone's welfare. C) one can only reduce someone's welfare. D) it is impossible to reduce someone's welfare.
An indication that Insurance companies anticipate adverse selection is
a. they do not require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they require a co-payment
Expectation damages: a. leave the parties no worse off than was anticipated under the contract
b. are designed to elicit efficient precaution and efficient reliance on promises. c. are readily awarded by the courts d. a through c e. a and c only
Direct controls often require long legal proceedings before they can be effective
a. True b. False Indicate whether the statement is true or false