In a free market for rental housing, the average rental rate
A. includes a large amount of economic rent.
B. includes zero economic rent.
C. is entirely economic rent, since rental housing is fixed in supply.
D. includes some economic rent.
Answer: D
You might also like to view...
In the above figure, if the economy is at equilibrium at E1, the Fed would most likely
A) attempt to lower the aggregate demand in the economy. B) attempt to lower the price level below 120. C) adopt an expansionary monetary policy. D) adopt a contractionary monetary policy.
When average variable cost is at its minimum level, marginal product _________
A. equals average product B. exceeds average product C. is less than average product D. is at its maximum level
The "V" in the equation of exchange MsV = PY refers to
A. income velocity of money. B. a variable. C. the velocity of inflation. D. a vector that links P to Y.
The total allowable catch (TAC) system differs from the individual transferable quota (ITQ) system in that:
A. TAC limits the total harvest of fish while ITQ does not B. ITQ limits an individual fishery's harvest, but TAC does not C. TAC prevents an "individual arms race" among fisheries, whereas ITQ does not D. ITQ does not offer significant cost-saving benefits, but TAC does