The textbook points out that rent controls have
A. greatly benefited the homeless.
B. attracted increases in low-income housing.
C. had no effect on the market for housing.
D. benefited upper-income or existing tenants.
Answer: D
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A newspaper headline reads: "Fed Cuts Federal Funds Rate for Fifth Time This Year." This headline indicates that the Federal Reserve is most likely trying to ________.
A. ease monetary policy B. tighten monetary policy C. raise interest rates D. reduce inflation in the economy
In the above figure, at point b on the demand curve, a price cut of one dollar will
A) increase total revenue. B) decrease total revenue. C) leave total revenue unchanged. D) have an indeterminate effect on total revenue.
The conduct of monetary policy is the responsibility of:
a. commercial banks. b. the U.S. Treasury. c. the Federal Reserve System. d. the Congress and the president.
The economy experiences an increase in the price level and a decrease in real domestic output. Which is a likely explanation?
A. Productivity has increased. B. Excess capacity has decreased. C. Input prices have increased. D. Government regulations have been reduced.