Which Is the MOST Correct Statement About the Impact of Rent

question 104

Multiple Choice

Which is the MOST correct statement about the impact of rent controls?

• A) The short-run supply curve for apartments is inelastic, so rent controls create larger shortages in the short run than in the long run.
• B) The short-run supply curve for apartments is inelastic, so rent controls create smaller shortages in the short run than in the long run.
• C) The long-run supply curve for apartments is inelastic, so rent controls create larger shortages in the long run than in the short run.
• D) The long-run supply curve for apartments is inelastic, so rent controls create smaller shortages in the long run than in the short run.

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Definitions:

Spatial Reasoning

The cognitive ability to think about objects in three dimensions and to draw conclusions about those objects from limited information.

Reasoning Ability

The cognitive capacity to process information, draw logical conclusions, and make informed decisions.

Emotional Competence

A learned capability based on emotional intelligence; results in outstanding performance at work.

Daniel Goleman

A psychologist known for his work on emotional intelligence and its importance in leadership and personal success.