The problems that inflation creates are caused almost entirely by
A) corporations.
B) greed.
C) price searchers.
D) uncertainty.
E) unions.
D
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Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. At a price of $4, the quantity demanded in the market would be
A) 40 lbs. B) 70 lbs. C) 110 lbs. D) 150 lbs.
Refer to Figure 5-3. With insurance and a third-party payer system, what is the amount of the deadweight loss?
A) $0 B) $2,500 C) $5,000 D) $24,000
In cities with rent controls, the actual rents paid can be higher than the legal maximum. One explanation for this is
A) rent control laws are so complicated that landlords and tenants may not be aware of what the legal price is. B) landlords are allowed to charge more than the legal maximum on some apartments so long as they charge less on others. C) the legal penalty landlords face for charging more than the legal maximum rent is less than the revenue earned by charging their tenants more than the maximum rent. D) because there is a shortage of apartments, tenants often are willing to pay rents higher than the law allows.
Poverty is a mainstream event experienced by a majority of Americans
a. True b. False Indicate whether the statement is true or false