If a country's population grows at the same rate as its real GDP, then real per capita GDP:
a. doesn't change.
b. grows at an increasing rate.
c. decreases at a decreasing rate.
d. grows at a constant rate.
a
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The cross elasticity of demand is a measure of how
A) responsive consumers are to changes in the price of a product. B) responsive suppliers are to changes in the price of a product. C) demand for a product changes when the price of a substitute or complement changes. D) total revenue changes when the price of a product changes. E) demand for a product changes when income changes.
All of the following shift the short-run aggregate supply curve EXCEPT
A) a change in the price level. B) a change in the money wage rate. C) a change in the price of a raw material. D) technological progress.
Discrimination based on age, race, gender, or family status very likely increases as a result of rent ceilings
Indicate whether the statement is true or false
Refer to Figure 4-5. With rent control, the quantity supplied is Q1. Suppose apartment owners ignore the law and rent this quantity for the highest rent they can get. What is the highest rent they can get?
A) R1 B) R0 C) more than R1 D) R*