The objective of rent controls is to
A) ensure an adequate supply of rental housing for the poor.
B) keep rents below levels that would be observed in a freely competitive market.
C) encourage the construction of new rental units.
D) raise revenue for the local government.
Answer: B
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Examining the conditions that could lead to inflation in an economy is an example of a microeconomics topic
Indicate whether the statement is true or false
The longer the unemployment rate remains above the natural rate, the higher the natural rate. This theory is known as historical analysis
a. True b. False Indicate whether the statement is true or false
If equilibrium GDP is below potential, then
a. unemployment is unusually low b. the Fed will lower the money supply c. the wage rate will fall as workers compete for scarce jobs d. the aggregate supply curve will shift leftward e. the wage rate will remain stable as labor productivity increases
Suppose the price of a six-pack of cola rises from $3 to $3.75 and the price of a pack of mints rises from $1.25 to $1.75 . If the CPI rises from 140 to 182, then people likely will buy
a. more cola and more mints. b. more cola and fewer mints. c. less cola and more mints. d. less cola and fewer mints.