If a rent ceiling is imposed that is less than the equilibrium rent, which of the following outcomes is most likely to occur?
A) reduced search activity
B) black market activity
C) a building boom
D) a housing surplus
E) None of the above answers is correct because to have an impact, the rent ceiling must be above the equilibrium rent.
B
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Use the following table to answer the question below.Dave's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600320201202024040804016060406080800800The terms of trade for 1 pound of green beans must lie between ________ and ________ pounds of corn.
A. 1/4, 1 B. 1/4, 1/2 C. 1, 4 D. 2, 4
Refer to Figure 13-13. If the diagram represents a typical firm in the market, what is likely to happen in the long run?
A) Inefficient firms will exit the market and new cost-efficient firms will enter the market. B) New firms will enter the market causing the demand to decrease for existing firms. C) Competition will be intensified as firms strive to make long-run profits. D) Some firms will exit the market causing the demand to increase for firms remaining in the market.
Real GDP is GDP
What will be an ideal response?
Which of the following is the group with the highest poverty rate?
A. Blacks B. Female-headed households with children C. Children D. Hispanics