The figure above shows the housing market in the city of Appleville. A rent ceiling of $650 per month is imposed. With the rent ceiling, what is the maximum black market rent in Appleville?
A) $650 per month
B) $700 per month
C) $750 per month
D) $800 per month
D
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Christina Romer's criticism of the belief that business cycles had moderated since World War II depended on the fact that
A) estimates of the timing of business cycles since World War II had been inaccurate. B) misuse of historical data had caused economists to understate the size of cyclical fluctuations in the post-World War II era. C) economists had ignored the roles of the government and international trade in mitigating economic fluctuations prior to World War II. D) economists had left out important components of GDP, such as wholesale and retail distribution, transportation, and services, in their pre-World War II estimates.
Which of the following games might a risk-averse person play?
a. a game where she has a 50 percent chance of winning $1 and a 50 percent chance of losing $1 b. a game where she has a 50 percent chance of winning $100 and a 50 percent chance of losing $100 c. a game where she has a 60 percent chance of winning $1 and a 40 percent chance of losing $1 d. a game where she has a 40 percent chance of winning $1 and a 60 percent chance of losing $1
All of the following are cited as factors in explaining U.S. competitiveness EXCEPT
A. reducing the federal deficit. B. economic restructuring. C. large investments in scientific research. D. widespread entrepreneurship.
Which of these is the best measure of the average standard of living in an economy?
a. The unemployment rate b. Nominal income c. Real GDP d. National debt e. Real GDP per capita