Refer to the Accompanying Table to Answer the Following Questions

question 53

Multiple Choice

Refer to the accompanying table to answer the following questions.

-If rent control is established at $1,550,what would be the amount of disequilibrium in the apartment market?

• A) There would be a shortage of 28,990 apartments.
• B) There would be a surplus of 28,990 apartments that is reduced,over time,as individuals rent apartments in the illegal black market.
• C) There would be neither a shortage nor a surplus.
• D) There would be a surplus of 28,990 apartments that is eliminated through individuals renting apartments in the illegal black market.
• E) There would be a surplus of 28,990 apartments that increases as houses and condominiums are converted into apartments.

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Definitions:

Lying

The act of making a false statement with the intent to deceive others, concealing the truth to achieve a particular outcome.

Pitch

The perception of the frequency of sound, determining how high or low a tone sounds.

Intensity

The degree of strength, force, or energy with which an emotion, action, or quality is expressed or felt.

Facial Expression

The movement of muscles in the face to convey emotions, reactions, or social information.