Suppose there are two cities that have rent controlled apartments. In one city (Albany) all apartments are subject to rent control; in the other city (Halftrack) one-half of the apartments are rent controlled
Which of the following is most likely to be true?
A) It will be easier to find an affordable apartment in Halftrack, either a rent-controlled apartment or another apartment, at a reasonable price.
B) It will be difficult to find a rent-controlled apartment in Albany or Halftrack; rents for the Halftrack apartments not subject to controls will be higher than they would be without rent control.
C) It will be easier to find an affordable apartment in Albany since rents will be low across the board.
D) It will be impossible to rent an apartment in either city at any price.
B
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A payment that a person receives from the government for engaging in a particular activity is called a
A) bribe. B) subsidy. C) consumer surplus. D) tariff.
The demand for loanable funds curve is downward sloping because
a. as the interest rate falls business firms demand fewer loanable funds b. as the interest rate falls business firms demand more loanable funds c. as the interest rate rises business firms demand more loanable funds d. as the interest rate rises, the government demands more loanable funds e. as the interest rate rises, the government demands fewer loanable funds