Suppose you live in New York City and the government has imposed price ceilings on apartment rental rates. You want to rent an apartment from Smith, who says that unless you buy the furniture in the apartment for $4,000, he cannot rent the apartment to you. The condition of buying the furniture could be considered
A) a price ceiling.
B) a price floor.
C) a tie-in sale.
D) to be something no renter would agree to.
E) c and d
C
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Which of the following is true?
A) The gap between the income per capita of U.S and the income per capita of poorer countries is small when exchange rate-based measures are used. B) The gap between the income per capita of U.S and the income per capita of poorer countries is large when PPP-based measures are used. C) Exchange rate-based measures of income per capita are identical to PPP-based measures. D) Exchange rate-based measures of income per capita differ from PPP-based measures of income per capita.
When XYZ Corporation produces 35 units of output its average variable cost is $5 . The marginal cost of the 36th unit of output is $7 . If the firm chooses to produce the 36th unit of output, what will happen to average variable cost? Explain
What will be an ideal response?
The view that expectations change relatively slowly over time in response to new information is known in economics as
A) rational expectations. B) irrational expectations. C) slow-response expectations. D) adaptive expectations.
Social Security is not compulsory. Wage earners do not have to belong to it
Indicate whether the statement is true or false