Rent control continues to survive despite its flaws because
A. economists generally favor it.
B. landlords like its simplicity.
C. it creates economic growth in a city.
D. those displaced by the policy do not live in the community and cannot vote to end it.
Answer: D
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The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
Is this game a prisoner's dilemma?
A. Yes, because if both firms played their dominated strategy, they each would earn a higher payoff than when they both play their dominant strategy. B. No, because neither firm has a dominant strategy. C. Yes, because if both firms played their dominant strategy, they each would earn a higher payoff than when they both play their dominated strategy. D. No, because cheating yields the highest payoff for both firms.
The inefficiency created by income taxation occurs due to
A) the cost of collecting taxes and making welfare payments. B) motivating welfare recipients to work less. C) motivating income earners to work less. D) All of the above answers are correct.
Suppose a person with automobile collision insurance is more likely to try to drive on an icy road in the middle of winter than that person would be if he or she didn't have automobile collision. This is an example of
A. adverse selection. B. moral hazard. C. the free-rider effect. D. asymmetric information before exchange. E. none of the above
If Year 1 is the base year, the CPI for Year 2 is approximately
A) 100.0. B) 126.3. C) 131.3. D) 181.0.