If the government were to intervene and set the rent for apartments in New York City below the market rent, then we would expect, relative to the market outcome,
a. an increase in the number of people wanting to live in apartments in New York City.
b. a decrease in the number of people wanting to live in apartments in New York City.
c. an increase in the number of apartments available for rent in New York City.
d. None of the above is correct.
a
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The effects of the negative supply shocks of 1973, 1979 and 2007 were different due to the ________
A) role played by rational expectations in the 1979 event B) different sources of the supply shocks C) credibility of the monetary authorities D) different individuals who led the Federal Reserve System
Classical economists and monetarists believe that the economy operates at full- employment GDP. Therefore, any increase in the money supply will cause both nominal and real GDP to increase
Indicate whether the statement is true or false