An affordable housing law will affect a city's housing prices only if:
a. the demand for houses in the city is downward sloping.
b. the demand for houses in the city is almost horizontal.
c. the demand for houses in the city is almost vertical.
d. the demand for houses in the city is backward bending.
A
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Mathematically the marginal rate of substitution is
A) always a negative number. B) always a positive number. C) is equal to 1. D) sometimes a positive and sometimes a negative number.
Contractionary monetary policy should increase foreign financial investment in the United States
Indicate whether the statement is true or false
In the long run, firms will enter a perfectly competitive market if the existing firms are making:
A. a profit. B. negative profits. C. zero profits. D. Any of these could be true.
Which of the following would not occur if all large firms in the economy were broken into smaller firms?
A. Decreased manufacturing efficiency in some industries B. Increased competition in all industries C. Decreased investment in research and development in some industries D. Increased prices for some manufactured goods