If you travel through the western United States in the summer, you are much more likely to encounter a shortage of camping spaces than a shortage of motel rooms because
A) camping sites are usually less expensive than motel rooms.
B) motels are more often privately owned.
C) the government has not provided as many camping spaces as the public wants.
D) there are more motel rooms than camping spaces.
E) vacationers in the summer display a greater demand for outdoor than for indoor sleeping sites.
B
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In an open economy, the law of one price implies that
A) the domestic economy may have a comparative advantage in only half the goods it produces. B) perfect competition holds in all domestic markets. C) purchasing power parity should hold. D) the nominal exchange rate should equal one.
If an individual had the option of receiving a cash transfer equal to the value of the housing subsidy, _____
a. they would be better off b. they could rent better housing than the public housing c. they could rent worse housing than the public housing d. all of the above e. a and b