In cities with rent control, people have an incentive to list their apartments on sites such as Airbnb at rents ________ the controlled rates, because rent control causes a ________ of apartments
A) above; surplus B) below; surplus C) above; shortage D) below; shortage
C
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The success of a cartel rests upon
A) inducing all members to limit their combined output and charge the same price. B) inducing all members to differentiate their products and charge different prices. C) making exit from the cartel as nearly costless as possible. D) discouraging some firms in the market from joining.
While money is an asset not all assets are money because:
A. only money is a good asset to hold during times of inflation. B. money must be legal tender. C. only money stores value. D. money works as a means of payment.
Low demand consumers are indifferent between second degree and first degree price discrimination.
Answer the following statement true (T) or false (F)
The use of an absorption instrument allows a government to
A) increase or decrease national absorption. B) change the balance between imports and exports. C) alter the balance of payments with a specific country. D) reduce the influence of domestic absorption on exchange rates.