An unintended consequence of rent control has been
a. apartment owners failing to properly maintain their buildings
b. a surplus of housing causing rents to fall below maintenance cost
c. that rents have been consistently held above the equilibrium price
d. a shortage of tenants
e. a decrease in the homeless population
A
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The table above shows a nation's production possibilities frontier. If the nation wants to produce 4 robots and 34 pizzas,
A) the nation will be producing inefficiently. B) the opportunity cost is 9 pizzas. C) it will shift the production possibilities frontier. D) it will be unable to do so because the production point is unattainable. E) the nation will then be producing at a production efficient point.
Suppose the seller of a used car provides unverifiable information about its quality to a prospective buyer. Unverifiability will reduce the cost of formulating a contract
Indicate whether the statement is true or false