If a major league baseball player would be willing to work for $700,000 per year and is currently being paid $1,200,000 per year, that player is earning an annual economic rent of

When a government mandate sets the rental price of an apartment below the market clearing level, which of the following result?

A) More apartments are rented. B) Landlords attempt to make up for the lower rental income by charging more for security deposits and cleaning fees. C) Landlords discriminate less. D) Landlords address their tenant's requests in a more prompt manner.

If there is a(n) __________ in reserves, the potential change in demand deposits is __________

A) deficiency; 0 B) deficiency; positive C) deficiency; negative D) excess; negative