Which of the following is most likely to be observed in a community where legal ceilings are imposed on residential rents?
A) Landlords will do a better job of property maintenance.
B) People moving into the community will have difficulty locating residential space to rent.
C) Poor people will be able to find adequate housing.
D) Tenants will reduce their use of housing space.
E) The people most in need of housing will be able to obtain the space they want.
B
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When aggregate demand increases, there is a movement ________ along the AS curve and ________
A) up; an upward shift of the short-run Phillips curve B) down; a movement down along the short-run Phillips curve C) up; a movement up along the short-run Phillips curve D) up; a movement down along the short-run Phillips curve E) down; a downward shift of the short-run Phillips curve
If resource prices are flexible, the long-run aggregate supply curve is vertical
a. True b. False Indicate whether the statement is true or false