In cities with rent controls, the actual rents paid can be ________ than the legal maximum. One explanation for this is because there is a ________ of apartments, tenants are ________
A) higher; shortage; often willing to pay rents higher than the law allows
B) higher; surplus; often forced to pay rents higher than the law allows
C) lower; surplus; never willing to pay rents below the legal maximum
D) lower; shortage; rarely willing to pay rents lower than the law allows
Answer: A
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As more women decide to work outside the home and therefore hire others to work around their home, GDP will increase by
A) only the value of the household work they are now hiring someone to perform. B) the value of the output produced by the newly working women minus the value of the household work they were previously performing. C) the value of the output produced by the newly working women plus the value of any household work they are now hiring someone to perform. D) only the value of the output produced by the newly working women. E) the value of the household work they were previously performing minus the value of the output produced by the newly working women.
Refer to Figure 26-3. In the figure above, when the money supply shifts from MS1 to MS2, at the interest rate of 3 percent households and firms will
A) sell Treasury bills. B) neither buy nor sell Treasury bills. C) want to hold more money. D) buy Treasury bills.