Who benefits primarily from rent controls?
A. construction workers
B. all who want to rent
C. only renters who are able to get units at below-market rates
D. poor people looking for low-income housing
Answer: C
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Refer to Table 6-8. What is the most distinctive feature of the supply curve?
A) The supply curve is horizontal. B) The supply curve is upward sloping. C) The supply curve is perfectly elastic. D) The supply curve is perfectly inelastic.
The Stackelberg model of oligopoly assumes that each of the two producers will choose prices instead of quantities and neither will change price in response to the other's decision
Indicate whether the statement is true or false
From a purely economic point of view, discrimination is established if: a. black teenagers earn more than white teenagers do
b. all factors are earning an amount equivalent to their marginal revenue product. c. women earn less than men do. d. equivalent factors earn different payments for equal contributions to output.
Why doesn't the Fed eliminate inflation from the economy entirely?
a. It is incapable of doing so. b. It believes that inflation is bad for the economy. c. It believes that the measured inflation rate understates the true rate of inflation. d. It recognizes that continuing inflation helps labor markets adjust more easily. e. If it did so, no one would get a raise in salary.