Author Question: One example of Ricardian rent is a. rent paid to landlords under price controls. b. the difference ... (Read 152 times)

brutforce · **on:** Jul 1, 2018

One example of Ricardian rent is
a. rent paid to landlords under price controls.
b. the difference between the wage of a star baseball player and what he could earn outside of baseball.
c. the amount paid to a seller above the equilibrium price of tourist class tickets in order to receive higher quality seats in first class.
d. the price rise of wool from a disease among sheep.

Question 2

Price controls
a. are always popular with consumers because they lower prices.
b. create shortages.
c. increase producer surplus because firms can now sell a greater quantity of a good at a lower price.
d. are necessary to preserve equity.