Rent controls are
A) when rents are set above the market clearing level to aid landlords.
B) used to provide incentives to contractors to build new apartments.
C) used to generate revenue for the local government.
D) when rents are set below the market clearing level.
D
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Which of the following statements is true?
A) The government plays absolutely no role in economies characterized by communism. B) Competition among firms is likely to be higher in communist economies than in market economies. C) The government plays absolutely no role in economies characterized by market economies. D) Competition among firms is likely to be higher in market economies than in communist economies.
If a firm in a competitive market decreases the quantity of output sold, total revenue should
a. decrease. b. increase. c. should change proportionately to the change in total costs for the firm. d. remain the same.
A manager wishes to estimate an average cost equation of the following form:C = a + bQ + cQ2whereQ is the level of output. Letting Z = Q2 and using least-squares estimation, the manager obtains the following computer output: 
Given the above information, when output is 20 units, what is average cost?
A. $340 B. $280 C. $360 D. $160 E. $200
Other things being equal, an increase in trade restrictions on imports will:
A. increase the demand for foreign currency, causing it to appreciate. B. increase the demand for foreign currency, causing it to depreciate. C. reduce the demand for foreign currency, causing it to depreciate. D. reduce the demand for foreign currency, causing it to appreciate.