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Use the following to answer questions:
Table: Market for Apartments
-(Table: Market for Apartments) Look at the table Market for Apartments. If a price ceiling of $700 is imposed on this market, the result will be an inefficiency in the form of a _____ million apartments.
Current Ratio
A liquidity ratio that measures a company's ability to pay short-term and long-term obligations, calculated as current assets divided by current liabilities.
Stock Dividend
A distribution of a corporation's earnings to its shareholders in the form of additional shares rather than cash.
Uncollectible Receivable
A receivable that is deemed irrecoverable and is written off as a loss because the debtor is unable to fulfill their obligation.
Current Ratio
A liquidity ratio that measures a company's ability to cover its short-term obligations with its short-term assets.
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