The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $400, there is
A) a shortage of 4,000 units of rental housing.
B) a shortage of 2,000 units of rental housing.
C) a surplus of 3,000 units of rental housing.
D) neither a shortage nor a surplus of rental housing.
B
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In the figure above, the SLF curve is the supply of loanable funds curve and the PSLF curve is the private supply of loanable funds curve. If there is no Ricardo-Barro effect, the figure shows a situation in which the government has a budget
A) deficit of $0.2 trillion. B) deficit of $1.6 trillion. C) surplus of $1.4 trillion. D) surplus of $0.2 trillion. E) surplus of $1.8 trillion.
Using the bathtub analogy to understand what determines the number of unemployed workers, the stock variables are
A) the number of workers finding jobs and the number of workers separating from their jobs. B) the number of workers separating from their jobs and the number of unemployed workers. C) the number of unemployed workers and the number of workers finding jobs. D) the number of workers finding jobs, the number of workers separating from their jobs, and the number of unemployed workers.
All points within the production possibilities frontier are
A) unattainable. B) efficient. C) inefficient. D) profitable.
The more inelastic the market demand curve or a commodity, the more prices will ________
Fill in the blank(s) with correct word