Most economists are against rent control, in part, because it:
a. leads to surpluses
b. encourages landlords to build too many apartments
c. Discourages tenants from searching for apartments
d. encourages landlords to overspend in upkeep and maintenance on apartments
e. none of the above
Ans: e. none of the above
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Refer to Figure 11-6. In the figure above which letter represents the average fixed cost curve?
A) A B) B C) C D) D
Which of the following is not one of the ways that the German government ended the hyperinflation of the 1920s?
A) replacing the existing mark with a new mark B) negotiating a new agreement with the Allies (the United States, Great Britain, France, and Italy) that reduced its reparations payments C) reducing government expenditures and raising taxes to balance its budget D) raising the required reserve ratio to reduce bank loans
Tax expenditures are revenues that
A. are always recouped during tax season. B. only apply to large corporations. C. are needed to get full exemptions. D. are forgone due to preferential tax treatment.
GDP is not a perfect measure of welfare because it
a. treats a dollar spent on candy bars the same as a dollar spent on education b. treats a dollar spent on exports the same as a dollar spent on imports c. double counts the value of leisure time d. double counts depreciation e. counts illegal activities in the underground economy