Which of the following is one of the functions of rental prices?
A) to redistribute income from landlords to renters
B) to redistribute income from renters to landlords
C) to signal to the local government when taxes on rental units should be increased
D) to ration the use of existing housing for current consumers
D
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If government spending does not change, an increase in the government deficit leads to
A) an increase in current consumption. B) a decrease in current consumption. C) no change in current consumption. D) it depends on the marginal propensity to consume.
Which is not an example of price discriminating by separating markets?
a. offering discounts for students with IDs. b. charging lower prices for airline tickets with a Saturday stay-over. c. selling 13 bagels (a "baker's dozen") for the price of 12. d. selling snowblowers at a discount in relatively warmer climates.
If the government owes $15.0 trillion and then borrows $900 billion more this year, this leads to
a. a debt of $900 billion and a deficit of $15.9 trillion. b. a debt of $15.9 trillion and a deficit of $900 billion. c. a debt of $14.1 trillion and a deficit of $900 billion. d. a debt of $15.0 trillion and a deficit of $14.1 trillion. e. a debt of $15.9 trillion and a deficit of zero.
Society wants to use its scarce resources efficiently. To achieve this economic goal it must:
A. expand the use of capital goods and reduce the use of labor. B. have a fixed resource base and fixed technology. C. have full employment and full production. D. increase the rental, interest, wage, and profit payments to the factors of production.