The textbook points out that rent controls have
A) benefited upper-income or existing tenants.
B) had no effect on the market for housing.
C) greatly benefited the homeless.
D) attracted increases in low-income housing.
A
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If that the marginal propensity to save (MPS) increased from 0.20 to 0.25, this would cause the multiplier effect to
A) increase. B) decrease. C) stay the same. D) None of the above is correct.
A single-price monopolist
A) sets its price where its demand is inelastic. B) can always increase its profits by increasing its price. C) has its marginal revenue less than its price. D) is guaranteed an economic profit.
The Plaza Accord of 1985 announces that the
A) G-5 countries will intervene in the foreign exchange market to bring about a dollar appreciation. B) G-7 countries will intervene in the foreign exchange market to bring about a dollar depreciation. C) G-5 countries will intervene in the foreign exchange market to bring about a dollar depreciation. D) G-7 countries will intervene in the foreign exchange market to bring about a DM depreciation. E) G-5 countries will not intervene in the foreign exchange market unless the dollar needs to appreciate.
If the social cost is greater than the private cost in a particular market, the private equilibrium will be at a quantity:
A. equal to the socially optimal level. B. less than the socially optimal level. C. greater than the socially optimal level. D. greater than or less than the socially optimum level, depending on the size of the external costs.