Because the supply and demand of housing are inelastic in the short run, the initial shortage caused by rent control is large

Suppose that Tracy and Pat start a business. Because of a series of bad decisions by Tracy, the company goes bankrupt, owing a total of $50,000. Tracy is penniless and Pat is a millionaire

If the company were organized as a partnership, Pat would be responsible for A) over $1 million of debt. B) $50,000 of debt. C) $25,000 of debt. D) $0 of debt.

The Malthusian model performs poorly in explaining economic growth after the

A) French Revolution. B) American Revolution. C) Industrial Revolution. D) Bio-technology Revolution.