Which of the following is an economic policy that promotes the efficient quantity of apartments?
A) a rent floor above the equilibrium rent
B) a rent ceiling below the equilibrium rent
C) a sales tax imposed on renting an apartment
D) none of the above
D
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In the real world:
A. businesses can easily identify different groups' willingness to pay, so price discrimination is prevalent in every market. B. price discrimination is practiced less today than it was in the mid-1900s. C. perfect price discrimination is impossible. D. price discrimination has only been observed where monopolies are present.
The market system provides a way
a. to allow specialization and exchange to work in tandem. b. to improve the well-being of mankind. c. to harness self-interest. d. to allocate goods and services. e. All of the above are correct.
If the velocity of money is increasing, but the money supply is not, it is likely the economy is experiencing:
A. inflation. B. growth. C. deflation. D. a trade deficit.
The type of nonprice rationing that most closely approaches the market outcome is
A. favored customer rationing. B. coupon rationing with coupons that can be resold. C. coupon rationing with coupons that cannot be resold. D. first-come, first-served basis or queuing.