Of the following groups, who gains from rent controls?
A) landlords
B) construction workers and their union leaders
C) poor people who have a hard time earning enough income to pay high rents
D) high-income people who live in rent-controlled apartments
D
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If a nation is selling more goods and services to foreigners than it is buying from them, then on net it must be buying assets abroad
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true?
a. When central planners set prices above equilibrium for goods and services they create shortages. b. Adam Smith argued that government's role in society would be to do absolutely nothing. c. The United States today comes closer to the socialist form of economic organization than it does capitalism. d. According to Karl Marx, under capitalism, workers would be exploited and would revolt against the owners of capital.