The textbook suggests that rent controls
A. actually contribute to the housing shortage in the area where they are applied.
B. are used in a government kickback scheme.
C. actually contribute to the housing boom in an area where they are applied.
D. have no effect on the local housing market.
Answer: A
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In a linear regression equation of the form Y = a + bX, the slope parameter b shows
A. ?X / ?Y. B. ?X / ?b. C. ?Y / ?b. D. ?Y/ ?X. E. none of the above
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Refer to the following graph. The price of capital (r) is $20. 
What is the lowest possible cost at which 14,000 units of output can be produced?
A. $8,600 B. $4,200 C. $3,600 D. $2,400 E. none of the above
Suppose the exchange rate between the U.S. and Argentina is initially set at 20 pesos per dollar and increases to 25 pesos per dollar. In the U.S. economy this would be expected to
A. increase exports and decrease imports. B. increase both exports imports. C. decrease both exports imports. D. increase imports and decrease exports.