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True or False Quiz
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1
Rent Controls will alleviate housing shortages.
A)True
B)False
2
A price ceiling must be set above equilibrium to have an effect on the market.
A)True
B)False
3
A price floor must be set above equilibrium to have an effect on the market.
A)True
B)False
4
An effective price ceiling leads to a shortage in the market.
A)True
B)False
5
An effective price floor leads to a surplus in the market.
A)True
B)False
6
The minimum wage is the primary reason for increased unemployment.
A)True
B)False
7
Rent controls increase the number of rental properties built in a city.
A)True
B)False
8
The additional output produced by a worker is the worker's MRP.
A)True
B)False
9
The income effect causes workers to work less as wages increase.
A)True
B)False
10
The substitution effect causes workers to work less as wages increase.
A)True
B)False





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