Which of the following represents a rent ceiling?
A. Bluestone Properties is permitted to charge a rent of $2,250 for 2-bedroom apartments that would be rent for $2,500 in an unregulated market
B. A housing shortage due to floods last summer has resulted in a rise in apartment rents in Denver
C. In LA, tenants have to pay a rent as high as $2,200 per month, so people prefer buying houses.
D. The interest on mortgage loans has gone up to 4.87 percent in 2013
A. Bluestone Properties is permitted to charge a rent of $2,250 for 2-bedroom apartments that would be rent for $2,500 in an unregulated market
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A French citizen lives in Detroit, but works in Windsor, Canada; his income is counted in U.S. GDP
Indicate whether the statement is true or false
The figure below shows the demand for meals at lunch and dinner for a proposed new restaurant. Suppose the marginal cost of a meal (both lunch and dinner) is constant at $10 per meal and marginal cost of providing the capacity is constant at $5 per meal. Once the managers have determined the profit-maximizing capacity, at dinner they will serve ________ meals and set a price of ________ per meal.
A) 200; $35 B) 800; $25 C) 200; $20 D) 600; $30
Money is used in an economy because: a. goods and services are produced in accordance with demand
b. the exchange of goods for money is less troublesome than barter. c. some goods or services are difficult to provide because of the scarcity of resources. d. some merchants may offer goods for a select clientele.
When there is a stock market boom, stockholders have capital losses.
Answer the following statement true (T) or false (F)