If the supply curve for housing has the normal positive slope, rent controls will likely
a. increase the amount of housing.
b. improve the quality of housing.
c. aggravate the housing shortage.
d. help low-income families find suitable housing.
e. increase the demand for housing.
c
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If urbanization in a nation keeps increasing, GDP per capita in the nation is likely to:
A) initially increase then decrease after urbanization reaches a certain threshold. B) keep decreasing. C) initially decrease then increase after urbanization reaches a certain threshold. D) keep increasing.
Which of the following is a result of scarcity?
a. Costs are incurred in making choices. b. We attempt to utilize our resources as efficiently as possible. c. We must make choices between production possibilities. d. We are unable to produce all we would like to produce. e. All of these.