Which of the following would likely result as a consequence of rent controls?
A) a reduction in the rate of construction of rental housing units
B) unimproved buildings and apartment complexes
C) limits on tenant mobility
D) All of the above are correct.
D
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Why is it impossible to make everyone better off in the long run by imposing import restrictions?
What will be an ideal response?
If the cross price elasticity of demand between goods A and B was equal to 0.5, those goods are substitutes
a. True b. False Indicate whether the statement is true or false
Critics of advertising argue that advertising leads to less elastic demand for products and a larger markup of price over marginal cost
a. True b. False Indicate whether the statement is true or false
Say's Law states that:
A. Increased prices lead to increased supply. B. Opportunity costs will always increase. C. Supply creates its own demand. D. High prices cause unemployment.