Rent controls are most often designed to protect the investment made by apartment building owners
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the table above. If countries were to trade along the lines of absolute advantage
A) A would export X to B. B) B would import Y from A. C) neither country would want to trade. D) More information is needed to determine the pattern.
Environmental quality is
a. a public good. b. best improved through government's prohibiting externalities. c. maximized when costs of pollution are external. d. minimized when optimal levels of pollution are produced.
The opportunity cost of leisure is impossible to measure because we cannot measure leisure time in dollars
a. True b. False Indicate whether the statement is true or false
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. Given the scenario described, if the market price of hammers was $12, then total producer surplus would be:
A. $9. B. $30. C. $17. D. $7.