When a government mandate sets the rental price of an apartment below the market clearing level, which of the following result?
A) More apartments are rented.
B) Landlords attempt to make up for the lower rental income by charging more for security deposits and cleaning fees.
C) Landlords discriminate less.
D) Landlords address their tenant's requests in a more prompt manner.
B
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Which economic question depends on the incomes that people earn and the prices they pay for goods and services?
A) Why? B) How? C) For whom? D) What? E) Where?
When the price level rises, the real interest rate ________ and the quantity of real GDP demanded ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; does not change
The debt-GDP ratio was lower in 1997 than it was during
A) the Civil War. B) World War I. C) World War II. D) all of the above.
Given the market for illegal drugs, when the government is successful in reducing the flow of drugs into the United States,
a. supply decreases, demand is unaffected, and price increases. b. demand decreases, supply is unaffected, and price decreases. c. demand and supply both decrease, leaving price essentially unchanged. d. supply decreases, demand increases, and price increases substantially.