In a city that has rent control for apartments, there is
A. a shortage of renters in the city.
B. a surplus of apartments available to rent.
C. less turnover of apartments.
D. neither a surplus nor a shortage of apartments.
Answer: C
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Refer to the table below. Pat's opportunity cost of delivering a pizza is making: Pizzas MadePer HourPizzasDeliveredPer HourCorey126Pat1015
A. 12 pizzas B. 2/3 of a pizza C. 3/2 of a pizza D. 10 pizzas
Explain the concepts of consumer surplus, producer surplus, and cooperative surplus
What will be an ideal response?
The only way that consumption can be taxed is through a general sales tax
a. True b. False
The average work week in the United States has declined to fewer than 40 hours even though wage rates have been increasing. The best explanation of this phenomenon is that
a. the labor supply curve shifted to the right b. the labor demand curve shifted to the right c. the income effect of rising wages outweighed the substitution effect d. the income effect of rising wages could not outweigh the substitution effect e. none of the above