Sherry wants to rent an apartment. Although rents are below what she is willing to pay, she cannot find an apartment. Then after a month of searching, she finds an apartment but she has to pay an additional $1,000 to have the locks changed
Sherry has just experienced the effects of ________. A) a rent floor with a black market
B) inelastic demand
C) a market working efficiently
D) a rent ceiling
D
You might also like to view...
If new firms enter a perfectly competitive industry, the
a. market supply curve will shift to the left, market price will fall, and industry output will increase b. market supply will shift to the left, market price will rise, and the industry output will increase c. market demand will shift to the right, market price will increase, and market output will increase d. market supply will shift to the right, market price will fall, and market output will increase e. market supply will shift to the right, market price will increase, and market output will decrease
Throughout the period from 1996 to 2010, U.S. Real GDP growth has been
a. constant. b. declining. c. steadily increasing. d. fluctuating.