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:

Behavior Modification

The use of empirically demonstrated techniques to improve behaviors, often by changing the environment’s response to those behaviors.

Motivated

The condition of being eager or willing to act or work toward a goal due to personal desire or external incentive.

Self-Disciplined

The ability to control one's feelings, impulses, and actions in order to achieve long-term goals or adhere to a particular set of standards.

Excuses

Reasons or explanations provided to justify actions or decisions, often used to mitigate blame or responsibility.