Which of the following examples would most likely be caused by a price ceiling?
a. fluctuating quantity of mid-rent apartments
b. equilibrium quantity of low-income apartments
c. shortages of low-income housing
d. surpluses of mid-rent apartments
c. shortages of low-income housing
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Margo orders a MacBook Pro computer from The Apple Store online to use it in her graphic design business. How will this be reflected in the figure above?
A) as expenditures on goods and services B) as a flow of a factor of production C) as a flow of goods and services bought D) as goods and services supplied E) It won't be shown in the figure because this transaction takes place neither in goods markets nor in factor markets. The figure above shows governments in the circular flow.
An increase in the number of buyers in the market causes
a. a decrease in equilibrium quantity b. a decrease in equilibrium price c. an increase in demand d. a decrease in production e. an increase in supply