If many landlords convinced many tenants to leave their rent-control apartments, how would the graph most likely change?
a. PRC would increase.
b. PRC would decrease.
c. PE would decrease.
d. PE would increase.
a. PRC would increase.
You might also like to view...
Suppose that the market for labor is initially in equilibrium. An increase in the price of output will cause the equilibrium wage
a. and the equilibrium quantity of labor to rise. b. and the equilibrium quantity of labor to fall. c. to rise and the equilibrium quantity of labor to fall. d. to fall and the equilibrium quantity of labor to rise.
Persons whose utility functions are concave with respect to wealth are said to be
A. risk-seekers. B. risk-averse. C. risk-neutral. D. fair gamblers.
Households buy in the resource market and sell in the product market
Indicate whether the statement is true or false
The downward sloping aggregate demand curve can be explained in part through the:
A. positive relationship between the price level and net exports. B. positive relationship between the price level and consumption. C. negative relationship between the price level and investment spending. D. All of these are true.