The strength of the demand for a resource depends on the following factors, except:
A. Supply of the resource
B. Productivity of the resource
C. Price of the product the resource helps to produce
D. Demand for the product the resource helps to produce
A. Supply of the resource
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In the short run,
a. higher productivity means higher cost. b. lower productivity means lower cost. c. lower productivity means higher cost. d. productivity and cost are unrelated.
Mattress savings are: a. used to buy bonds and shares
b. kept in a current account. c. kept in a savings account. d. kept on hand and not loaned out or invested.
If the price of inputs falls and the level of consumer indebtedness rises: a. Price index rises, and real GDP rises. b. Price index rises, and real GDP falls. c. Price index rises, and the change in real GDP is uncertain
d. Price index falls, and real GDP rises. e. Price index falls, and the change in real GDP is uncertain.
Of the following groups, who gains from rent controls?
A) landlords
B) construction workers and their union leaders
C) poor people who have a hard time earning enough income to pay high rents
D) high-income people who live in rent-controlled apartments