A positive economic statement simply describes what is
Indicate whether the statement is true or false
T
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The market-determined prices of existing bonds and interest rates are directly related.
Answer the following statement true (T) or false (F)
Suppose the CPI does indeed overstate the inflation rate. When the CPI increases by 5% and household incomes increase by 5%, we should conclude that real incomes of households have:
A. increased more slowly than has inflation. B. increased. C. decreased. D. stayed constant.
In the long run, a firm in perfect completion will earn which of the following?
a. Economic loss b. Economic profit c. Zero economic profit d. Either economic loss or profit
Which of the following examples would most likely be an unintended consequence of rent control?
a. Most of the apartments in a building are vacant. b. A landlord is known for renting to people who often are considered “undesirable.” c. Most of the apartments in a building are in a deteriorated state. d. A landlord decides to put in new plumbing for an entire apartment complex.