Exam 3: Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

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The Following Questions Refer to the graph below. -If the demand for rental housing is DD and the supply of rental housing is SS,the equilibrium rent and quantity (number of units in thousands)are

(Multiple Choice)

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Question 81

Which of the following is true of the minimum wage?

(Multiple Choice)

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Question 82

A firm increases the number of workers it hires from 50 to 52 and,as a result,output increases from 100 to 110.Each of the additional units of output can be sold for $2.What is marginal revenue for the last 10 units produced?

(Multiple Choice)

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Question 83

If 10 workers produce 100 units of output and 11 workers produce 108 units of output,the marginal product of the 11^th worker is 8.

(True/False)

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Question 84

Which effect dominates if a workers supply curve for labor is negatively sloped?

(Multiple Choice)

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Question 85

Price floors are instituted to increase the income of sellers.

(True/False)

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Question 86

The additional revenue a firm receives as a result of hiring an additional worker is MRP.

(True/False)

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Question 87

As the price of rental housing falls,which of the following occurs?

(Multiple Choice)

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Question 88

The Following Questions Refer to the graph below. -If the supply and demand for rental housing are DD and SS,what effect will a rent control law that sets the maximum allowable rent at $400 have on the market? It will lead to

(Multiple Choice)

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Question 89

A firm has a given amount of capital.When it hires 10 workers,output is 30.When it hires 11 workers,output is 40.If the Law of Diminishing Returns applies,which of the following is the most likely amount of output when the firm hires 12 workers?

(Multiple Choice)

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Question 90

Rent controls result in a misallocation of resources.

(True/False)

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Question 91

Research suggests that as the minimum wage is increased by 10%,the associated increase in the teenage unemployment rate is nearly

(Multiple Choice)

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Question 92

The Following Questions Refer to the graph below. -If rent is controlled at $600,there will be a __ equal to thousand units in the market.

(Multiple Choice)

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Question 93

During the 1970's about how many cities in the U.S.had rent controls?

(Multiple Choice)

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Question 94

Price floors are often instituted for which of the following purposes?

(Multiple Choice)

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Question 95

A firm increases the number of workers it hires from 50 to 52 and,as a result,output increases from 100 to 110.Each of the additional units of output can be sold for $2.What is the marginal product of the 52^nd worker?

(Multiple Choice)

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Question 96

A firm's marginal revenue curve is also its demand curvE.

(True/False)

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Question 97

If a worker works more as the wage increases,the income effect is dominating.

(True/False)

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Question 98

As the price of rental housing increases,which of the following will happen?

(Multiple Choice)

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Question 99

Minimum housing standards prevent any property deterioration in rent controlled housing.

(True/False)

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Question 100

Showing 81 - 100 of 123

The Following Questions Refer to the graph below. -If the demand for rental housing is DD and the supply of rental housing is SS,the equilibrium rent and quantity (number of units in thousands)are

Which of the following is true of the minimum wage?

A firm increases the number of workers it hires from 50 to 52 and,as a result,output increases from 100 to 110.Each of the additional units of output can be sold for $2.What is marginal revenue for the last 10 units produced?

If 10 workers produce 100 units of output and 11 workers produce 108 units of output,the marginal product of the 11^th worker is 8.

Which effect dominates if a workers supply curve for labor is negatively sloped?

Price floors are instituted to increase the income of sellers.

The additional revenue a firm receives as a result of hiring an additional worker is MRP.

As the price of rental housing falls,which of the following occurs?

The Following Questions Refer to the graph below. -If the supply and demand for rental housing are DD and SS,what effect will a rent control law that sets the maximum allowable rent at $400 have on the market? It will lead to

A firm has a given amount of capital.When it hires 10 workers,output is 30.When it hires 11 workers,output is 40.If the Law of Diminishing Returns applies,which of the following is the most likely amount of output when the firm hires 12 workers?

Rent controls result in a misallocation of resources.

Research suggests that as the minimum wage is increased by 10%,the associated increase in the teenage unemployment rate is nearly

The Following Questions Refer to the graph below. -If rent is controlled at $600,there will be a __ equal to thousand units in the market.

During the 1970's about how many cities in the U.S.had rent controls?

Price floors are often instituted for which of the following purposes?

A firm increases the number of workers it hires from 50 to 52 and,as a result,output increases from 100 to 110.Each of the additional units of output can be sold for $2.What is the marginal product of the 52^nd worker?

A firm's marginal revenue curve is also its demand curvE.

If a worker works more as the wage increases,the income effect is dominating.

As the price of rental housing increases,which of the following will happen?

Minimum housing standards prevent any property deterioration in rent controlled housing.

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

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Exam 3: Government Control of Prices in Mixed Systems: Who Are the Winners and Losers

The Following Questions Refer to the graph below. -If the demand for rental housing is DD and the supply of rental housing is SS,the equilibrium rent and quantity (number of units in thousands)are

Which of the following is true of the minimum wage?

A firm increases the number of workers it hires from 50 to 52 and,as a result,output increases from 100 to 110.Each of the additional units of output can be sold for $2.What is marginal revenue for the last 10 units produced?

If 10 workers produce 100 units of output and 11 workers produce 108 units of output,the marginal product of the 11th worker is 8.

Which effect dominates if a workers supply curve for labor is negatively sloped?

Price floors are instituted to increase the income of sellers.

The additional revenue a firm receives as a result of hiring an additional worker is MRP.

As the price of rental housing falls,which of the following occurs?

The Following Questions Refer to the graph below. -If the supply and demand for rental housing are DD and SS,what effect will a rent control law that sets the maximum allowable rent at $400 have on the market? It will lead to

A firm has a given amount of capital.When it hires 10 workers,output is 30.When it hires 11 workers,output is 40.If the Law of Diminishing Returns applies,which of the following is the most likely amount of output when the firm hires 12 workers?

Rent controls result in a misallocation of resources.

Research suggests that as the minimum wage is increased by 10%,the associated increase in the teenage unemployment rate is nearly

The Following Questions Refer to the graph below. -If rent is controlled at $600,there will be a ______ equal to ____ thousand units in the market.

During the 1970's about how many cities in the U.S.had rent controls?

Price floors are often instituted for which of the following purposes?

A firm increases the number of workers it hires from 50 to 52 and,as a result,output increases from 100 to 110.Each of the additional units of output can be sold for $2.What is the marginal product of the 52nd worker?

A firm's marginal revenue curve is also its demand curvE.

If a worker works more as the wage increases,the income effect is dominating.

As the price of rental housing increases,which of the following will happen?

Minimum housing standards prevent any property deterioration in rent controlled housing.

Alleviating Human Misery: The Role of Economic Reasoning

Economic Systems, Resource Allocation, and Social Well-Being: Lessons From Chinas Transition

Pollution Problems: Must We Foul Our Own Nests

Economics of Crime and Its Prevention: How Much Is Too Much

The Economics of Education: Crisis and Reform

Poverty Problems and Discrimination: Why Are so Many Still so Poor

The Economics of Monopoly Power: Can Markets Be Controlled

The Economics of Professional Sports: What Is the Real Score

Competition in the Global Market-Place: Should We Protect Ourselves From International Trade

Economic Growth: Why Is the Economic Road so Bumpy

Money,Banking and the Financial System: Old Problems With New Twists

Unemployment and Inflation: Can We Find a Balance

Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

Social Security and Medicare: How Secure Is Our Safety Net for the Elderly

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If 10 workers produce 100 units of output and 11 workers produce 108 units of output,the marginal product of the 11^th worker is 8.

The Following Questions Refer to the graph below. -If rent is controlled at $600,there will be a __ equal to thousand units in the market.

A firm increases the number of workers it hires from 50 to 52 and,as a result,output increases from 100 to 110.Each of the additional units of output can be sold for $2.What is the marginal product of the 52^nd worker?