Society can operate on the production possibilities curve only if it has achieved efficiency.

A rent ceiling set below the equilibrium rent decreases the quantity of housing supplied because

A) landlords of previously barely profitable apartments refuse to rent them. B) the supply of housing increases. C) fewer tenants will search for housing. D) demand for housing will increase. E) the supply curve of housing immediately shifts leftward.

Taxes and transfers in the United States

A) shift the Lorenz curve inward. B) shift the Lorenz curve outward. C) cancel out so that the Lorenz curve does not shift. D) shift the Lorenz curve inward at low incomes, outward at high incomes.