Which of the following was an effect of the affordable housing law in the cities Palo Alto, Laguna Beach, and Irvine?
a. It imposed a per-unit tax on builders of mid-range houses.
b. The law had a significant impact on the mid-range houses.
c. It imposed a per-unit tax on builders of expensive new houses.
d. The law had a significant impact on the supply of mid-range houses.
C
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Suppose that the typical consumer buys one apple and one orange every month. In the base year 1986, the price for each was $1. In 1996, the price of apples rises to $2, and the price of oranges remains at $1. Assuming that the CPI for 1986 is equal to 1, the CPI for 1996 would be equal to:
A. 1/2. B. 1. C. 3/2. D. 2.
If the exchange rate is 2 Brazilian reals per dollar and a meal in Rio costs 20 reals, then how many dollars does it take to buy a meal in Rio?
a. 40 and your purchase will increase Brazil's net exports. b. 10 and your purchase will increase Brazil's net exports. c. 40 and your purchase will decrease Brazil's net exports. d. 10 and your purchase will decrease Brazil's net exports.