Which of the following is a possible outcome of setting a legal maximum rental rate below the market clearing rental rate?
A) an increase in the quantity of rental housing supplied
B) a decrease in the quantity of rental housing demanded
C) a black market in rental housing
D) a surplus of rental housing
C
Economics
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A two-firm oligopoly is called a
A) double monopoly. B) cartel. C) duopoly. D) monopolistic oligopoly. E) dual-market.
Economics
The EITC provides substantial work incentive for low-income workers and has only positive supply effects
Indicate whether the statement is true or false
Economics