Refer to Figure 4-8. Suppose that instead of a rent ceiling, the government imposed a price floor of $2,000 per month for apartments. What is the value of consumer surplus after the imposition of the price floor?
A) $6,000 B) $30,000 C) $100,000 D) $240,000
B
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Assumptions that underlie the Resource-based View include
a. Resource heterogeneity b. Resource immobility c. Barriers to entry d. Both a and b
International trade exists because countries
A) can make themselves better off through trade. B) want to be neighborly with each other. C) want to be political allies. D) want to improve diplomatic relations with each other. E) want to avoid war with each other.
Location is a "fundamental" determinant of the price of any house.
Answer the following statement true (T) or false (F)
Recall the Application about how having car insurance affects driving behavior to answer the following question(s).Recall the Application. The idea that an insured driver, who bears less than the full cost of a collision, will drive less carefully than an uninsured driver is an example of:
A. asymmetric information. B. adverse selection. C. moral hazard. D. a thin market.