Why do landlords tend to discriminate against a person's race, religion, or age more when rent controls are imposed?
A) Landlords are naturally racist and bigoted.
B) Only minority groups will take an interest in apartments with controlled rents.
C) Economists will encourage landlords to discriminate.
D) Rent controls lower the personal costs of discriminatory behavior among landlords.
E) For all of the above reasons.
D
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Suppose we observe that both the equilibrium price of digital cameras and the equilibrium quantity of digital cameras have increased. Which of the following events could be responsible for this?
A) technological advances in digital camera production B) consumers' preferences changed in favor of digital cameras C) the price of film cameras fell D) workers who make digital cameras received a pay raise
The IS curve becomes steeper when
A) government spending is relatively small. B) the income tax rate in the current period is relatively small. C) current changes in the real interest rate cause large changes in current real output. D) changes in the current real interest rate cause small changes in current demand. E) none of the above