The long-run effect of rent control on an area includes
A) rampant building of new low-income housing.
B) many new luxury apartments new luxury apartments will be built.
C) new investors into the real estate market in the area.
D) less investment into the real estate market in the area.
Answer: D
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Is a monopolistically competitive firm allocatively efficient?
A) No, because it does not produce at minimum average total cost. B) Yes, because price equals average total cost. C) No, because price is greater than marginal cost. D) Yes, because it produces where marginal cost equals marginal revenue.
The measurements of business cycles tend to be exaggerated as a result of the GDP treatment of
a. services. b. perishable goods. c. government services. d. durable goods.
If the number of stages between input production and final product production increases then:
a. GDP and GNP both rise. b. GDP and GNP both fall. c. GDP and GNP both remain unchanged. d. GDP rises and GNP falls. e. GDP falls and GNP rises.
In order to maximize net benefits, the managerial control variable should be used up to the point where:
A. net marginal benefits equal zero. B. total costs equal total benefits. C. average costs equal marginal benefits. D. average benefits equal marginal costs.