The services of real estate brokers are provided in a competitive market. If the state Board of Realtors enacts several requirements that limit the number of real estate brokers, then consumer surplus will most likely
A) increase.
B) decrease.
C) remain unchanged.
D) There is not enough information to answer.
B
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Which of the following is NOT a solution to a principal-agent problem?
A) ownership B) managerial hierarchy C) incentive pay D) long-term contracts
The aggregate demand curve shows:
a. how the equilibrium level of aggregate expenditure changes in response to changes in production. b. the amount people spend at different real GDP levels. c. the positive relationship between the price level and real GDP. d. the negative relationship between aggregate expenditure and real GDP. e. how the equilibrium level of aggregate expenditure changes as the price level changes.
Income is more unequally distributed than wealth in the United States.
Answer the following statement true (T) or false (F)
Any event that creates a "crisis in confidence" is likely to lead to
A. higher aggregate output. B. inflation. C. higher aggregate prices. D. lower aggregate prices.