Rent control laws are imposed when city officials believe landlords have been exploiting tenants. Which of the following criteria are they using to guide their actions?
A. growth
B. stability
C. efficiency
D. equity
Answer: D
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Your financial investments consist of U.S. government bonds maturing in twenty years and shares in a start-up internet company. If interest rates on newly-issued government bonds increase, then the price of your bonds will ________ and the price of the shares you own will ________.
A. decrease; not change B. increase; increase C. increase; not change D. decrease; decrease
The New Deal was carried out during the administration of President
A. Herbert Hoover. B. Franklin Roosevelt. C. Harry Truman. D. Dwight Eisenhower.
A Big Mac meal costs $3.00 and gives you an additional 5 units of utility; a meal at the Four Seasons Hotel costs $27.00 and gives you an additional 45 units of utility. Based only on the information you have, using the theory of rational choice, you most likely would:
A. be indifferent between eating the Big Mac and eating at the Four Seasons Hotel. B. choose to eat at the Four Seasons Hotel. C. choose to eat the Big Mac meal. D. decide that eating at the Four Seasons Hotel is preferable because though the marginal utilities of both meals are the same, the total utility is greater in the case of the meal at the Four Seasons Hotel.
What will happen in an economy if the actual GDP is too high relative to the potential GDP?
What will be an ideal response?