Christoph is a landlord in an area where rent controls have set the maximum price he can charge below the competitive equilibrium price. How can a landlord like Christoph be a “winner” in this situation?
a. by expanding his business and buying more properties
b. by spending more to maintain his properties in perfect condition
c. by breaking the law and finding ways to charge his tenants more
d. by increasing demand by charging his tenants even less than the price ceiling
c. by breaking the law and finding ways to charge his tenants more
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Tariff rates remained high in the U.S. throughout the postbellum period for which of the following reasons?
(a) The government needed revenues to finance its expenditures. (b) Special interest groups organized themselves to realize rents. (c) Land sales dwindled as the Western frontier closed. (d) All of the above.
Education and on-the-job training are sources of human capital
a. True b. False Indicate whether the statement is true or false
If Tom purchases a comprehensive auto insurance policy because he knows he is a reckless driver, his behavior is an example of moral hazard.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30. B. exactly 60. C. fewer than 30. D. exactly 30.