If the Law Requires Apartment Building Owners to Lower Rent

question 99

Multiple Choice

If the law requires apartment building owners to lower rent, the law of supply predicts that, other things constant, the:

• A) supply of apartment units will shift leftward.
• B) supply of apartment units will shift rightward.
• C) quantity of apartment units supplied will rise.
• D) quantity of apartment units supplied will fall.

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Definitions:

Average

A numerical value representing the sum of a group of values divided by the number of values in the group, commonly used to describe the central tendency of a data set.

Speciation And Extinction

The processes by which new species are created through evolutionary mechanisms, and the loss of species when they die out, respectively.

Human Activity

Actions and behaviors performed by humans which impact the environment, such as industrial production, agriculture, and urban development.

Continental Drift

The theory suggesting that Earth's continents are in constant motion on the surface of the globe.