The above figure shows a housing market with a rent ceiling equal to $1,000. In this figure, what area is equal to the resources lost due to search?

A) area A
B) area B
C) area C
D) area D
E) area E

B

Economics

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Which of the following economic perspectives would be most opposed to a balanced-budget rule?

A. Monetarism B. Mainstream economics C. Rational expectations D. New classical economics

Economics

Command systems in the Soviet Union and pre-reform China failed primarily because of:

A. the failure to accumulate and use capital. B. greater resource scarcity than in market systems. C. the failure to specialize in production. D. coordination and incentive problems.

Economics