Multiple Choice
When a tenant in a rent-controlled apartment sublets the apartment to another renter at a rent higher than the price ceiling:
A) it is inefficient.
B) the transaction takes place on a black market.
C) there is an increase in quantity demanded.
D) there is a decrease in quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
Q45: (Table: Quantity Supplied and Quantity Demanded)Use Table:
Q46: Quantity controls set below the equilibrium quantity
Q47: Use the following to answer question: <img
Q48: Use the following to answer question: <img
Q49: Quotas are more effective than price controls
Q51: A rent ceiling must be set above
Q52: A persistent shortage may occur if:<br>A)the government
Q53: The amount that consumers are willing to
Q54: Which statement is a reason for governments
Q55: Use the following to answer question: <img