Which of the following is a positive economic statement?
a. Government control of rent is a fair way to help poor people afford housing.
b. Government control of rent keeps landlords from charging too much rent.
c. Government control of rent decreases the number of new apartments constructed.
d. Government control of rent is an injustice.
C
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Use the table below to answer the following question.ProducerMinimum Acceptable Product PriceActual Product Price (Equilibrium Price)Kimberly$6$13Drake713Nicki913Victoria1113What is the total producer surplus for all four producers shown?
A. $24 B. $6 C. $19 D. $13
From the graph showing the Phillips curve from 2006 to 2016, we can see that the 2008 financial crisis caused ______.
a. a downward movement along the Phillips curve
b. an upward movement along the Phillips curve
c. skyrocketing inflation and unemployment rates
d. plummeting inflation and unemployment rates
In the U.S. balance of payments, purchases of foreign assets by U.S. residents are tabulated as a:
A. unilateral transfer. B. capital outflow. C. current account outflow. D. capital inflow.
In golf and tennis, there is little concern over player strikes because
A. they are amateurs and do not wish to be paid. B. there is a direct relationship between winning and earning. C. the golf and tennis owners have always been fair. D. even the average players make more than the stars in the other sports.