In New York City, apartment rent can be adjusted only when a tenant leaves. This leads
A) people to change apartments often.
B) landlords to encourage tenants to stay in their apartments.
C) tenants to stay in apartments longer than they would otherwise.
D) businesses to build new rental units.
C
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The increase in the demand for widgets, shown in the figure above, is the result of a decrease in the price of McBoover devices. Therefore
A) widgets and McBoover devices are substitutes. B) widgets and McBoover devices are complements. C) widgets are a normal good. D) McBoover devices are a normal good.
Which of the following statements about the above figure is TRUE?
A) Point A is equally preferred to point C. B) Point B is equally preferred to point C. C) Point C is preferred to point A. D) Point A is preferred to point C.
When the British import more American goods, this event:
A. Increases the supply of American dollars B. Increases the demand for British pounds C. Decreases the supply of American dollars D. Increases the supply of British pounds
An increase in total utility would be depicted using indifference curve analysis as: a. a movement down along an indifference curve to the southeast
b. a movement up along an indifference curve to the northwest. c. a movement from one indifference curve to another located to the northeast. d. a movement from one indifference curve to another located to the southwest.