ZuoTi.Pro
Question

True or False: If there are currently 5,000 homeless people in New York City, and if...

True or False: If there are currently 5,000 homeless people in New York City, and if the city builds housing for 1,000 people, then there will be 4,000 home- less people in New York City. (Answer assuming that nobody moves in or out of the city as a result of the new housing project.)

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

False, When there is increase in supply of 1000 houses causes price of houses to decrease. But it doesn't mean that the homeless people will be able to afford the houses. So it doesn't mean there will be 1000 less homeless people. Also withoit any information about the equilibrium price of houses and the homeless people's demand curve, it is not possible to accurately say that there will be 4000 homeless peopel in New York city.

0 0
Add a comment
Know the answer?
Add Answer to:
True or False: If there are currently 5,000 homeless people in New York City, and if...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Of all those people who enter Uncle`s Stereo, a discount electronics store in New York City,...

    Of all those people who enter Uncle`s Stereo, a discount electronics store in New York City, 28% purchase a digital camera, 5% buy a home theater receiver, and 4% buy both. Suppose a customer is selected at random. What is the probability that the customer buys a digital camera but not a home theater receiver?

  • You’re visiting New York City and come to a large group of people watching a street...

    You’re visiting New York City and come to a large group of people watching a street performer. To your – and everyone else’s- amazement, an adult man is performing some extreme acts; one which consists of standing on sharp nails. You carry out a short interview with him and find out that nail man used to scream discuss how plasticity of this neural circuit through his training over time led him to be able to withstand standing on sharp nails...

  • The New York State Health Department randomly selected 5,000 people from the general population who are...

    The New York State Health Department randomly selected 5,000 people from the general population who are at-risk to the HPVvirus. The following table summarizes their findings In the table below HPV Test Result Positive Negative Total Men 475 25 Women 225 4,275 Total P(Women or Negative) 1. .905 2. 1.76 3. .045 4. .994

  • QUESTION 1 George is from New York City. People in large metropolitan areas vote Democrat. Probably,...

    QUESTION 1 George is from New York City. People in large metropolitan areas vote Democrat. Probably, George will vote Democrat. What quantifier should you add to the word “people" to make the argument the strongest that it possibly can be? A. Most B. All | C. No Some QUESTION 2 It is always good to add a quantifier (all, many, some, etc.) to a generalization. A. False because the broader your argument, the stronger it is. B. True because it...

  • Question # 4 The hot pretzel stands operating in New York City are considered to be...

    Question # 4 The hot pretzel stands operating in New York City are considered to be an example of a perfectly competitive market. Suppose that there are 10,000 hot pretzel stands operating in New York City. Each stand has the usual U-shaped average total cost curve. The market demand curve for pretzels slopes downward and the market for pretzels is in long-run equilibrium. a. Draw the current equilibrium, using graphs for the entire market and for an individual pretzel stand....

  • 1. Costs and profit Antonio lives in New York City and runs a business that sells...

    1. Costs and profit Antonio lives in New York City and runs a business that sells boats. In an average year, he receives $842,000 from selling boats. of thi s sales he also pays wages and utility bills totaling $301,000. He owns his showroom; if he chooses to rent it out, he will receive $38,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Antonio does not operate this boat...

  • 35. New York city population is 8.6 million. Currently they report a total of 25,398 covid...

    35. New York city population is 8.6 million. Currently they report a total of 25,398 covid 19 cases. What is the current prevalence of covid 19 in NYC? a. 0.295% b. 2.95% c. 5% d. 0.01% e. 7% 36. A hypothetical example. In city A, with a population of 100,000 people, the weekly number of new cases of covid 19 was 100 while in city B, with a population 1,000,000, the reported weekly number of new cases was 1000. The...

  • The times of the finishers in the New York City 10km run are normally distributed with...

    The times of the finishers in the New York City 10km run are normally distributed with mean of μ minutes and standard deviation 9 minutes. It is known that 80% of finishers have a finish time greater than 53.44 minutes. Let X denote the finishing time for finishers in this race. a) Find the mean finishing time (µ). Note: Provide the R code and output for the z-value or finding area under the standard normal curve. b)In 2013 approximately 7748...

  • The Empire State Building in New York City is 381 meters tall. If a penny were...

    The Empire State Building in New York City is 381 meters tall. If a penny were dropped from rest at that height, how many seconds would it take to strike the street below? Air resistance would make a significant difference in the real world case, but ignore air resistance for now. As a 5 kg ball rolls down a ramp, the net force on it is 15 N. What is its acceleration? A long-distance runner has an average speed of...

  • Ch.4 Most_hospice Organizanon are non-proht (TRUE OR FALSE The first modern hospice St. Christopher's Hospice was...

    Ch.4 Most_hospice Organizanon are non-proht (TRUE OR FALSE The first modern hospice St. Christopher's Hospice was created in New York in 1948 True or False 3. Respite care refers to the "Unwinding of long term care consumers on their good-mood days 3 True or False On any given day during the weeks older adults in the u.s. participated in adoi dau care services in 2015 A. 2,863 B. 28, 630 C. 281,300 ID: 2,863,000 C 5 The virtual village" movement...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT