Imagine an economy whose autonomous consumption is $100 billion and MPC is constant at 0.90 . Which of the following will shift the economy's consumption curve upward?
a. a tax increase
b. higher capacity utilization rates
c. higher national income
d. lower wealth holdings
e. expectations of higher inflation in the future
E
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A second-price auction
a. is also called an English auction b. is where the highest bidder wins and pays the amount of the next highest bid c. is where the sole remaining bidder wins and pays his winning bid d. all of the above
Under rent control, landlords cease to be responsive to tenants' concerns about the quality of the housing because
a. with shortages and waiting lists, they have no incentive to maintain and improve their property. b. they become resigned to the fact that many of their apartments are going to be vacant at any given time. c. with rent control the government guarantees landlords a minimal level of profit. d. with rent control it becomes the government's responsibility to maintain rental housing.