The supply curve for housing in the very short run is likely to be
A. perfectly elastic.
B. unit-elastic elastic.
C. very elastic.
D. very inelastic.
Answer: D
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Consumers should continue to rearrange their consumption of two goods until:
a. the prices of the two goods are equal for the last dollar spent on each good. b. marginal utility is the same for each good for the last dollar spent on each good. c. the marginal utility per dollar's worth of the two goods is the same for the last dollar spent on each good. d. the same amount of each is purchased.
Few countries have a higher GDP per capita than the weighted average of Canada, Mexico and U.S. GDP
Indicate whether the statement is true or false
A government policy generates $10,000 of benefits to underprivileged youth at a cost of $5,000 to taxpayers. The policy is Pareto efficient.
Answer the following statement true (T) or false (F)
Automatic stabilizers are the:
A. expansionary fiscal policies. B. taxes and government spending that affect fiscal policy without specific action from policymakers. C. Keynesian policies. D. fiscal policies that government actively chooses to adopt.