Most economists are against rent control, in part, because it:
a. leads to surpluses
b. encourages landlords to build too many apartments
c. Discourages tenants from searching for apartments
d. encourages landlords to overspend in upkeep and maintenance on apartments
e. none of the above
Ans: e. none of the above
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Many people do NOT fully insure against risk because
A) they are risk averse. B) the insurance companies are all crooks. C) the insurance offered is less than fair. D) the insurance offered is more than fair.
Which of the following is true about increasing cost industries? a. They use a large portion of available specialized input resources in production
b. In order for industry output to expand, the prices of the specialized inputs will increase. c. Expansion of industry output leads to a higher equilibrium price in the long run. d. All of the above are generally true of increasing cost industries.