The above figure shows supply and demand curves for apartment units in a large city. If the city government passes a law that establishes $450 per month as the legal maximum rent, consumer surplus will be

Matthew purchases a candy bar with his allowance. This purchase represents using money as

A) a medium of exchange. B) a store of value. C) an unit of account. D) none of the above.

In cities with rent controls, the actual rents paid can be ________ than the legal maximum. One explanation for this is because there is a ________ of apartments, tenants are ________

A) higher; shortage; often willing to pay rents higher than the law allows B) higher; surplus; often forced to pay rents higher than the law allows C) lower; surplus; never willing to pay rents below the legal maximum D) lower; shortage; rarely willing to pay rents lower than the law allows