According to libertarians, the government should redistribute income from rich individuals to poor individuals to achieve a more equal distribution of income
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 4-5. What is the area that represents the producer surplus after the imposition of the ceiling?
A) D + F + G B) F C) F + G D) A + B + D + F + G
If the market price is $25, the average revenue of selling five units is
A) $5. B) $12.50. C) $25. D) $125.
Over the past few decades, nominal interest rates have been higher than real rates of interest. This means that
A. lenders must have expected inflation. B. borrowers must have expected deflation. C. lenders must have expected prices to fall. D. borrowers must have expected prices to fall.
The objective of rent controls is to
A) ensure an adequate supply of rental housing for the poor. B) keep rents below levels that would be observed in a freely competitive market. C) encourage the construction of new rental units. D) raise revenue for the local government.