FIGURE 5-4 -Refer to Figure 5-4.Suppose the Government Imposes a Rent-Controlled Price

question 28

Multiple Choice

FIGURE 5-4
-Refer to Figure 5-4.Suppose the government imposes a rent-controlled price of $600 per month on apartments in this city.In the long run we can expect the shortage of apartments to be ________ units.

• A)0
• B)200
• C)300
• D)800
• E)1000

---

Definitions:

Principal's Business

The central activities or operations that a principal or company is engaged in or the focus area of its business.

Nonemployee Agents

Individuals or entities that act on behalf of a company but are not classified as employees, often for specific tasks or functions.

Corporate Officers

High-ranking executives appointed to manage an organization or corporation, such as CEOs, CFOs, and COOs, responsible for its day-to-day operations.

Employees

Individuals who are hired by a business or organization to perform work in exchange for compensation.