Which of the following would be the most likely result of a binding price ceiling imposed on the market for rental cars?
a. frequent rental programs such as "Rent nine times and the tenth rental is free!"
b. enhanced maintenance programs to promote the high quality of the cars
c. free gasoline given to people as an incentive to a rent a car
d. slow replacement of old rental cars with newer ones
d
Economics
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If the MPC is 0.5 and the tax rate is 10%, a $500 increase in autonomous government purchases will increase equilibrium income by
A) $225. B) $280. C) $910. D) $1,110.
Economics
An efficiency wage is ________ and results in ________
A) equal to the equilibrium wage; full employment B) above the equilibrium wage; a surplus of labor C) below the equilibrium wage; a shortage of labor D) above or below the equilibrium wage; a surplus or shortage of labor
Economics