According to your textbook, rent controls on apartments
A) produce fair outcomes.
B) create problems of their own.
C) tend to promote efficiency.
D) do both B and C.
E) do none of the above.
B
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Which of the following is true according to the circular flow model?
A. Firms are suppliers in both the product and factor markets. B. Firms are demanders in the product markets and suppliers in the factor markets. C. Households are demanders in both the product and factor markets. D. Households are demanders in the product markets and suppliers in the factor markets. E. The government is a demander in the product market only.
In the market for labor, the monopsonist is the sole:
A. buyer and can keep wages up, above the competitive wage. B. seller and can push wages down, below the competitive wage. C. buyer and can push wages down, below the competitive wage. D. seller and can keep wages up, above the competitive wage.