In the housing market, rents serve the purpose of
A. providing an entry by the government into the housing market.
B. rationing the availability of existing housing.
C. making landlords rich.
D. increasing tax collections by the community.
Answer: B
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The interest rate for primary credit is usually set ________ basis points ________ the federal funds rate. In March 2008, this gap was changed to ________ basis points
A) 50; below; 100 B) 100; above; 25 C) 100; below; 50 D) 50; above; 25
For state and local governments, in 2011, sales taxes and property taxes made up approximately
a. 10 percent of all receipts. b. 22 percent of all receipts. c. 33 percent of all receipts. d. 43 percent of all receipts.
As one moves down a straight-line, down-sloping demand curve, price elasticity will:
A. change from elastic, to unit elastic, then to inelastic. B. remain the same between any two points. C. change from inelastic, to elastic, then to unit elastic. D. change from unit elastic, to elastic, then to inelastic.
A movement up or down the AD curve is due to changes in the prices of all final goods and services, whereas a movement up and down the demand curve for any individual good is due to a change in the price of that good while all other prices are held constant.
Indicate whether the statement is true or false.