The federal government and many state governments gave tax credits to first-time home buyers in 2009 and 2010. An effect of these tax credits was to
A) make the price of houses higher than they would have been without the tax credit.
B) lower house prices.
C) shift the demand curve for houses leftward.
D) b and c
E) none of the above
A
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The amount of time during which at least one input cannot be adjust is the
A. length of the long-run period. B. length of the short-run period. C. time period when all costs are fixed. D. end of the firm’s operations.
As wealth decreases, which of the following is likely to account for a larger fraction of a saver's portfolio?
A) corporate stock B) corporate bonds C) U.S. government securities D) checking account balance
Economists often focus on average behavior because it is easier to predict
a. True b. False
A negative supply shock ______ the amount producers will supply at any given price.
a. decreases b. increases c. destabilizes d. corrects