Instituting a rent control program will most likely lead to
A. an excess quantity supplied of rental units.
B. a shortage of rental units.
C. overly elaborate and expensive construction.
D. an efficient allocation of existing units among consumers.
Answer: B
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If domestic savings was 2 billion last year and domestic investment was -12 billion, then the current account balance is
A) 10 billion. B) -10 billion. C) 14 billion. D) -24 billion.
An optimal allocation of resources is one which is
A. unfair. B. fair. C. efficient. D. inefficient.
In Figure 3.2, what is the variable cost to the producer? 
A. 0BCQ* B. 0PCQ* C. BP*C D. P*AC
Say's law explains
A. how long-term real Gross Domestic Product (GDP) stability is achieved in the classical model. B. why economies experience business cycles. C. how the economy can go into recession. D. how long-run real Gross Domestic Product (GDP) stability is achieved in the Keynesian model.