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Price ceilings have been used to help renters in expensive areas by keeping rents artificially low. Though this helps some renters, there are costs associated with this practice too. Place a check next to all of the items below that describe possible consequences resulting from rent control. Select all that apply.
-The development of Black Markets -The requirement of nonrefundable cleaning deposits. -Reductions in apartment quality. -An increased emphasis on informal connections in allocating apartments. -The requirement of nonrefundable key deposits. -An increased level of subletting.
A candidate in the group is proposing a national sales tax to replace our personal income tax. Analyze this tax proposal to help your candidate understand its merits and demerits, so that she knows how to attack him.
Johnny continues to consume burgers and steaks. His utility function is U(xB; xS) = xBxS. The price of burgers is $1, the price of steak is $2, and his income is $40 a day. What is the largest number of burgers that Donna could demand from Johnny in ..
Hospitals are engaged in intense competition to fill maternity beds. What type of advertising would hospitals most likely use to advertise their new amenities like hot tubs in every room, filet mignon or lobster on the menu, and afternoon teas for th..
A consumer's utility is given by U(X,Y)=X^0.25*Y^0.75. (To be clear, ^ denotes exponentiation, so the utility function is X to the 0.25 power multiplied by Y to the 0.75 power.) What is the number of units of good X in the consumer's utility-maximizi..
Why does the assumption of independence of risks matter in the examples of insurance.
Illustrate what steps do you suggest that it take in order to balance its budget. What would be the affect on you if it takes steps to balance its budget, or Illustrate what would be the affect on you if it does not.
A sum of money invested at 10% interest, compounded quarterly, will quadruple in amount in approximately how many years?
If there were 2 million unemployed Thailand had a job-finding rate of 15% per month, how many people would lose jobs each month.
What if any difficulties do you think may be encountered in implementing the current policy being pursued by Fed Chairman Ben Bernanke to cope with one of the worst financial crises in the US since the Great depression?
Would environmentalists favor command-and control policies as a way to reduce pollution? Why or why not? From an economic perspective, is it sound policy to pursue a goal of zero pollution? Why or why not?
A flood control project with a life of 16 years will require an investment of $63,971 and annual maintenance costs of $5,000. The project will provide no benefits for the first two years but will save $24,000 per year in flood damage starting in the ..
A business traveler to Germany who, upon deplaning in Berlin, uses an airport ATM to withdraw 100 Euros from her U.S. bank would receive which kind of exchange rate?
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