A housing shortage results when
A) a tax is imposed on housing.
B) a rent ceiling below the equilibrium rent is imposed.
C) a rent ceiling above the equilibrium rent is imposed.
D) rents rise.
E) a rent floor below the equilibrium rent is imposed.
B
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In the United States, most workers now
A. work for some level of government. B. work in the manufacturing sector. C. work in the agricultural sector. D. work in the service sector.
Common property
a. is owned by specific people. b. is inexhaustible. c. refers strictly to land resource. d. refers to goods "owned" by society at large and freely usable by anyone.
Long-run full-employment equilibrium assumes:
A. ?a downward-sloping production function. B. ?a downward-sloping long-run supply curve (LRAS). C. ?the CPI index price level equals the equilibrium wage rate. D. ?the CPI equals aggregate demand (AD) equals short-run aggregate supply (SRAS) equalslong-run aggregate supply (LRAS).?
Poverty rates among the elderly are:
A. much lower than poverty rates among children. B. higher than the poverty rates among children. C. approximately the same as the poverty rates among children. D. rising more rapidly than the poverty rates among children.