Rent controls are an example of a
A. price floor for the consumer and a price ceiling for the producer.
B. nonprice rationing device.
C. price floor.
D. price ceiling.
Answer: D
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The New Deal reduced
(a) government involvement in private affairs. (b) individual liberty. (c) taxes. (d) rent-seeking.
Gresham's Law states
a. supply creates its own demand b. demand creates its own supply c. MV = PQ d. good money drives out bad e. bad money drives out good
In the probit model, G is the:?
A. ?standard normal cumulative distribution function. B. ?cumulative distribution of normal distribution function. C. ?standard normal probability distribution function. D. ?normal probability distribution function.
The city of Logan Square needs $40 million for a network of streetlights. There are 20,000 residents in the Logan Square neighborhood, meaning the cost for each resident is $2,000. Mr. Miller refuses to donate $2,000 towards the project. This is an example of the problems encountered with:
A. consumer goods. B. capital goods. C. private goods. D. public goods.