Rent controls tend to __________ the supply of housing and the ________ the level of rents paid.
A. raise; raise
B. lower; lower
C. raise; lower
D. lower; raise
B. lower; lower
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The cost to a member bank of borrowing from the Federal Reserve is called the:
a. reserve requirement. b. price of securities in the open market. c. discount rate. d. yield on government bonds.
Between the years of 2001 and 2003, what happened to the structural deficit?
a. It declined rapidly. b. It fell steadily. c. It increased steadily. d. It remained fairly constant.
The doctrine of laissez faire is based on the belief that
A. Government failure does not exist. B. Markets result in an unfair distribution of income. C. Markets are likely to do a better job of allocating resources than government directives. D. Government directives are likely to do a better job of allocating resources than markets.
Which of the following factors will NOT increase economic development?
A. establishing a system of property rights B. increasing the amount of protectionism C. increasing the amount of education in the population D. creative destruction where old jobs, companies and industries are destroyed