The 1960s are remembered by most economists as a period of
a. very high rates of inflation.
b. very high rates of unemployment.
c. price controls and low inflation.
d. noninflationary growth.
e. all of the above.
d
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The shortage created by a rent ceiling below the equilibrium rent is smallest when the demand for housing is ________ and the supply of housing is ________
A) elastic; elastic B) elastic; inelastic C) inelastic; elastic D) inelastic; inelastic E) unit elastic; unit elastic
A market situation in which a large number of firms produce similar but not identical products is called
A) pure monopoly. B) monopolistically competitive. C) oligopolistic behavior. D) perfectly competitive.
The actions produced by arm muscles but NOT by leg muscles are __________.
Fill in the blank(s) with the appropriate word(s).
what happens when demand decreases and supply does not change
What will be an ideal response?