A rent ceiling
A) increases the quantity of rental units supplied.
B) cannot change the market price.
C) set above equilibrium price has no effect.
D) generally aims at insuring that landlords receive a higher rent than would otherwise be the case.
C
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Consider an individual who earns $95,000, has two children, pays $6,000 in child care expenses for one child, pays $19,000 in college tuition for the other child, pays $6,500 in mortgage interest (mortgage interest is tax deductible), and pays $9,600 in medical expenses. Medical expenses in excess of 7.5 percent of one's income are deductible. Personal exemptions are $3,050 per person (including the tax filer). When the individual's income is $30,000 or above, he/she gets a 12% child care credit. A college credit of 9% of tuition costs is given to those that have income less than $90,000. Her statutory marginal tax rate is 15 percent. What is her actual or effective marginal tax rate?
What will be an ideal response?
According to real business cycle theory, the primary causes of business cycles are
A) shocks to aggregate demand. B) monetary factors. C) technology shocks. D) waves of self-fulfilling optimism and pessimism.
The main determinant of the discount rate on a privately issued bank note was:
a. how long the issuing bank had been in operation. b. who was on the issuing bank's board of directors. c. the general reputation of the issuing bank. d. the distance of the issuing bank from the location where the note was being used.
Proponents of comparable worth justifies it on the ground that:
a. interfering with the functioning of the labor market will lead to shortages of labor. b. interfering with the functioning of the labor market will lead to excess supplies of labor. c. as a result of personal prejudices the market is unable to assess marginal products. d. market correctly processes the innumerable information which is available. e. interaction of demand and supply correctly determines the wage rate.