In the figure above, the demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the government imposes a rent ceiling of $300 per month. In the short run there will be
A) a shortage of 500,000 apartments.
B) a shortage of 400,000 apartments.
C) a shortage of 200,000 apartments.
D) no shortage nor a surplus of apartments.
C
Economics
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Some people choose to live close to the city center; others choose to live away from the city and take a longer commute to work every day. Does picking a location with a longer commute imply a failure to optimize?
What will be an ideal response?
Economics
Economic variables that generally turn down after a recession begins and turn back up after the recovery starts are called:
A) leading indicators. B) coincident indicators. C) lagging indicators. D) none of the above.
Economics