Who benefits primarily from rent controls?
A) construction workers
B) poor people looking for low-income housing
C) all who want to rent
D) only renters who are able to get units at below-market rates
D
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If a consumer is consuming a combination of goods and services on his budget line, has the consumer allocated his or her entire budget?
What will be an ideal response?
Refer to Figure 16-5. Suppose the firm represented in the diagram decides to act as a monopolist and charge a single price. What is the profit maximizing quantity produced and what is the price charged?
A) Q = 480 units; P = $16 B) Q = 240 units; P = $28 C) Q = 560 units; P = $12 D) Q = 320 units; P = $24
Which of the following actions would be most likely to increase economic growth in a developing country?
a. establishment of a command economy that can set definite goals for the future and implement them b. an increase in foreign aid to finance spending on infrastructure such as roads and bridges c. development of a legal system that fairly protects people and their property d. construction of new colleges to expand higher education
Country A limits other nation's exports to Country A to 1,000 tons of coal annually. This is an example of a(n):
A. protective tariff. B. export subsidy. C. import quota. D. voluntary export restriction.