Which is NOT a capital?
(A) The person whose photograph is snapped by the candid photographer.
(B) The state house where state government is conducted.
(C) The paint used by a housepainter.
(D) The computer used by an accountant.
Ans: (A) The person whose photograph is snapped by the candid photographer.
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Equilibrium quantity must decrease when demand
a. increases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease. b. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease. c. decreases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease. d. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease.
Which of the following statements about the effects of rent control is correct?
a. The short-run effect of rent control is a surplus of apartments, and the long-run effect of rent control is a shortage of apartments. b. The short-run effect of rent control is a relatively small shortage of apartments, and the long-run effect of rent control is a larger shortage of apartments. c. In the long run, rent control leads to a shortage of apartments and an improvement in the quality of available apartments. d. The effects of rent control are very noticeable to the public in the short run because the primary effects of rent control occur very quickly.