Rent controls can result in
a. deteriorating or abandoned buildings
b. strong incentives to oust protected tenants
c. payments to motivate tenants to move out
d. benefits to rich people who get a windfall from low rents
e. All of the answers are correct.
E
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A result of selling concert tickets cheaply, that is below the equilibrium price, will be that
a. only those with nothing else to do will wait in line to buy a ticket. b. ticket buyers' benefits increase, at the expense of the performers. c. the costs associated with competition among buyers for the limited number of tickets will create deadweight losses. d. more tickets will be sold than if the price were at the market equilibrium.
If we take into account transfer payments (TR) when we derive the saving and investment relationship, the saving and investment equation becomes
A) S = I + NFI + TR. B) S + TR = I + NFI. C) S = I + NFI. D) S = I + NX - TR.
Discuss how tax burdens are related to the elasticity of labor.What do most economists believe is true about the elasticity of labor supply in the United States and the burden if any that workers bear?
What will be an ideal response?
Refer to the following graph. An increase in demand is reflected as
a. a shift of the demand curve from D to D1.
b. a shift of the demand curve from D to D2.
c. movement from point A to B along demand curve D.
d. movement from point A to E when the price is $12.50.