Which group of individuals most likely benefits from rent controls?
A) the unemployed who fail to obtain rental housing
B) low-income wage earners who fail to obtain rental housing
C) single parent families without savings or other financial assets who fail to obtain rental housing
D) upper-income professionals who rent apartments at the price ceiling rate
Answer: D
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A free market is a market:
A) that has price controls imposed by a ruling authority. B) where almost all exchanges take place involuntarily. C) where determination of equilibrium quantity is free from the forces of demand and supply. D) that operates with little or no government control.
Explain the theory of purchasing power parity
What will be an ideal response?
Which of the following is an example of a progressive tax?
a. Social Security tax b. federal income tax c. excise tax d. payroll tax
There is no control over price by firms in:
A. pure competition. B. pure monopoly. C. oligopoly. D. monopolistic competition.