Because all of his friends stopped exclusively wearing black clothes, Doug wears anything but black clothes. This is known as
A) a negative sum game.
B) collusion.
C) positive market feedback.
D) negative market feedback.
Answer: D
Economics
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The deadweight loss from a rent ceiling below the equilibrium rent is smallest when the supply of housing is
A) perfectly elastic. B) elastic but not perfectly elastic. C) unit elastic. D) inelastic but not perfectly inelastic. E) perfectly inelastic.
Economics
How much would be added to this year's GDP if you sold your four-year-old automobile for $4,000 and purchased a two-year-old model from an acquaintance for $10,000
a. nothing b. $6,000 c. $10,000 d. $14,000
Economics