If a landlord will rent an apartment only to married couples over 30 years old, the landlord is allocating resources using a ________ allocation method
A) majority rule
B) market price
C) contest
D) personal characteristics
E) command
D
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A tax on a polluting industry
A) is not desirable because it reduces efficiency. B) leads to less output in this industry. C) causes more resources to be used in the polluting industry. D) shifts the marginal social benefit curve leftward. E) shifts the marginal social benefit curve rightward.
Payments that a firm makes to obtain needed resources comprise its:
A. Costs B. Profits C. Capital D. Revenues
Which term refers to a legally established maximum price that firms may charge?
A) a price ceiling B) a subsidy C) a price floor D) a tariff
(Consider This) The Fed's ability to alter the level of reserves in the banking system is the main idea of the:
A. sponge analogy. B. squeegee analogy. C. pushing-on-a-string analogy. D. hose analogy.