Rent controls only affect the demand side of the rental market
a. True
b. False
Indicate whether the statement is true or false
False
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The desire to hold money instead of other assets in anticipation of changes in economic conditions is the ________ motive.
Fill in the blank(s) with the appropriate word(s).
In Figure 33.1, at the minimum wage, the producer surplus is 
A. BWminEF. B. WminAE. C. BW*C. D. W*AC.
Suppose Sam and Kevin can produce pens and pencils as shown in the table below. PensPencilsSam12 hours8 hoursKevin4 hours6 hours(a) Who has a comparative advantage in producing pens? Who has a comparative advantage in producing pencils?(b) Suppose Sam and Kevin have to each give Flip, a common friend, 10 pens and 10 pencils. Is there a trade that will make both of them better off? If a trade that would make both of them better off exists, describe such a trade. If there is no such trade that would make both of them better off, explain why.
What will be an ideal response?
A subsidy:
A. increases the amount that buyers pay for a good. B. reduces the amount that buyers pay for a good. C. reduces both the amount that buyers pay and the amount sellers receive for a good. D. increases both the amount that buyers pay and the amount sellers receive for a good.