A rent control law, where tenants pay below-market rents, is a market restriction that may induce a decrease in the supply of rented apartments
a. True
b. False
Indicate whether the statement is true or false
True
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In the market for international loans, most countries, including the United States, are net borrowers
Indicate whether the statement is true or false
According to the law of supply:
a. there is an inverse relationship between price and quantity demanded. b. there is a direct relationship between price and quantity demanded c. there is an inverse relationship between price and the quantity supplied. d. there is a direct relationship between price and the quantity supplied.
Diminishing marginal returns are the reason why some industries have positively-sloped long-run average cost curves
a. True. b. False.
A public debt which is owed to foreigners can be burdensome because:
A. Foreign interest rates are persistently higher than domestic interest rates B. The payment of interest reduces the volume of goods and services available for domestic uses C. The payment of interest will conflict with a nation's foreign aid programs D. The payment of interest will necessarily have a deflationary effect on prices in the paying nation