In the housing market, rents serve the purpose of
A) making landlords rich.
B) rationing the availability of existing housing.
C) providing an entry by the government into the housing market.
D) increasing tax collections by the community.
B
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Creative destruction includes all of the following except
(a) The rise of the automobile industry at the expense of the carriage industry (b) The rise of the computer industry at the expense of the typewriter industry (c) The destruction of all capital during economic busts (d) There is no except; all of the above are examples of creative destruction
When the economy is in recession, personal income tax collections
a. fall along with consumption and real GDP b. fall but consumption and real GDP rise c. rise providing funds for rising unemployment insurance d. rise but unemployment insurance payments fall so incomes remain unchanged e. fall but saving and investment rise along with real GDP