The above figure shows the apartment market in Big City. If a government policy results in a shortage of 1,500 apartments in the Big City rental market, it is most likely that the Housing Authority has imposed
A) a rent ceiling of $1500.00 monthly.
B) a rent ceiling of $1000.00 monthly.
C) a rent floor of $1500.00 monthly.
D) a rent floor of $1000.00 monthly.
B
You might also like to view...
The equation of exchange is a formula indicating that the number of monetary units times
A) the number of times each monetary unit is spent on final goods and services is identical to the price level times real GDP. B) real GDP is identical to the price level times the number of times each monetary unit is spent on final goods and services. C) nominal GDP is identical to the price level times the number of times each monetary unit is spent on final goods and services. D) the price level is identical to the number of times each monetary unit is spent on final goods and services times real GDP.
A public good can be excludable or nonexcludable.
Answer the following statement true (T) or false (F)
Explain how does an increase in real interest rates affect the components of AE
What will be an ideal response?
The marginal propensity to consume is
a. the change in income divided by the change in consumption b. consumption spending divided by income c. income divided by consumption spending d. the change in consumption divided by the change in income e. the change in consumption divided by income