Other things being equal, the increase in rents that occurs after rent controls are abolished is smaller when:
A.rented homes and owned homes are substitutes.
B. rented homes and owned homes are complements.
C. the own price elasticity of demand for rental homes is price inelastic.
D. the own price elasticity of demand for rental homes is price elastic.
E. the own price elasticity of demand for rental homes has unitary price elasticity.
D. the own price elasticity of demand for rental homes is price elastic.
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Which of the following is a role of the Federal Deposit Insurance Corporation in the United States?
A) It determines the monetary policy of the country. B) It monitors the money supply. C) It controls the real rate of interest. D) It regulates banks that are insolvent.
An industry with only two competing firms is called a ________
A) duopoly B) perfect competition C) monopoly D) monopolistic competition