Which of the following often allows a landlord to raise the rent for a rent-controlled apartment?
a. improvements made to the apartment
b. crime increase in the apartment’s neighborhood
c. the landlord going into debt
d. an occupant moving out
d. an occupant moving out
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During 2005-2006 Europe imported more than $70 million worth of U.S. long-grain rice
In 2006, the European Union threatened to restrict imports of long-grain rice because traces of genetically modified rice were found mixed in to commercial supplies. What would NOT be an effect in the European rice market if U.S. imports were banned? A) There would be an increase in long-grain rice consumption. B) There would be an increase European in rice production. C) The price of long-grain rice would increase. D) The quantity of long-grain rice imports would decrease.
Greg spends his entire budget on two goods: he plays video games at the mall arcade and he buys pizza. He discovers that his MU/P of video games is lower than his MU/P of pizza. From this, we know that he would be:
A. as happy as possible, since he is already maximizing total utility. B. happier eating less pizza and playing more video games. C. happier eating more pizza and playing fewer video games. D. indifferent to which selection he makes.