Rent controls
a. are an example of price floors
b. are an example of price ceilings.
c. destroy wealth by preventing the movement of apartments to higher-valued use.
d. Both b and c
d
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The purpose of commodity buffer stocks is
(a) to moderate price fluctuations. (b) to raise commodity prices. (c) to encourage commodity substitution. (d) to guarantee national security.
The Fed's eclecticism reflects:
A. A combination of flexible rules and limited discretion. B. Fixed rules that are set for monetary growth rates. C. Discretionary policy but not rules. D. The targeting of interest rates as the primary goal to be achieved by monetary policy.
Possession of information by one party in a financial transaction but not by the other party is
A. financial intermediation. B. informational hazard. C. symmetric information. D. asymmetric information.
Refer to the information provided in Scenario 22.3 below to answer the question(s) that follow.SCENARIO 22.3: Consider a local high school that has 300 sophomores considered to be at-risk students. A privately-sponsored after-school sports program has been established to try to help at-risk students succeed in finishing high school. The local government wants to know if this program reduces the students' probability of dropping out of high school before the end of their junior year, and decides to randomly sample 150 of the 300 at-risk sophomores and invite them to attend the after-school program at no cost. 100 students accept the invitation, and by the end of their junior year, the drop-out percentage of the 100 students who attended the program was lower than the drop-out percentage of
the 200 students who did not attend the program. Refer to Scenario 22.3. To use the intention-to-treat procedure to measure the effect of the after-school program, you would need to compare A. the drop-out percentage of the 150 students who were offered the program to the drop-out percentage of the 150 students who were not offered the program. B. the drop-out percentage of the 100 students who attended the program to the drop-out percentage of the 200 students who did not attend the program. C. the drop-out percentage of the 100 students who attended the program to the drop-out percentage of the 50 students who were offered the program but chose not to attend. D. the drop-out percentage of the 50 students were offered the program but chose not to attend to the drop-out percentage of the 150 students who were not offered the program.