Answer the following statements true (T) or false (F)
1. The U.S. economy is a mixture of perfect and imperfect competition and regulated and non regulated industries.
2. Self -interest is a major tenet of economic liberalism.
3. Laissez-faire is a policy of government nonintervention in the economy.
4. Laissez-faire is a policy of no government intervention in the economic activities of individuals and businesses.
1. TRUE
2. TRUE
3. TRUE
4. TRUE
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Which of the following is an impact of a rent ceiling set below the equilibrium rent?
A) Renters find apartments to rent more rapidly because the rent ceiling is lower. B) Landlords' incentives to provide apartments decrease. C) The supply of apartments increases as soon as the rent ceiling is imposed. D) A surplus of housing occurs. E) Search for apartments decreases because renters need no longer search for the apartment with the lowest rent.
Does a perfectly competitive producer have any incentive to undercut the current market price? Explain your answer
What will be an ideal response?
The flatter the aggregate supply curve, the less the amount of government spending necessary to close a $1 billion GDP gap
a. True b. False Indicate whether the statement is true or false
Savings bonds
a. allow more people to buy and hold government debt b. are marketable Treasury bonds c. are issued by the Federal Reserve d. are only considered external debt e. restrict government debt access