In recent years, the industrially advanced nations as a group have provided foreign aid amounting to about what percentage of their aggregate outputs?
A. 0.25 percent.
B. 0.7 percent.
C. 1 percent.
D. 2 percent.
A. 0.25 percent.
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When "rent controls" result in a shortage of housing, landlords
A) use criteria other than price to allocate housing. B) lower the price to allocate the housing. C) attempt to attract renters. D) None of the above.
To the extent that high incomes can be attributed to very high demand for very scarce abilities, the labor supply effects of a substantial increase in the tax rate
a. will be zero as long as the labor supply curve is vertical. b. will be significant because the demand curve is fixed. c. cannot be predicted because the substitution and income effects offset each other. d. will be zero as long as there is no economic rent in the income.
When prisoners' dilemma games are repeated over and over, sometimes the threat of penalty causes both parties to cooperate
a. True b. False Indicate whether the statement is true or false
In states where the government runs liquor stores, the monopoly results from
A) economies of scale. B) legal restrictions. C) control of an essential resource. D) patents. E) public fear.