The Shortage Created by a Rent Ceiling Below the Equilibrium

question 133

Multiple Choice

The shortage created by a rent ceiling below the equilibrium rent is smallest when the demand for housing is ________ and the supply of housing is ________.

• A) elastic; elastic
• B) elastic; inelastic
• C) inelastic; elastic
• D) inelastic; inelastic
• E) unit elastic; unit elastic

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Definitions:

Shaded-Relief Map

A map of an area whose relief is made to appear three-dimensional by simulating the shading on mountains, valleys, and other features.

Topographic Map

A map that represents the three-dimensional surface of the earth using contour lines to show elevation changes.

Geologic Map

A map that shows the distribution, nature, and age relationships of rock units, sediments, structures, and other geologic features.

Topographic Relief

The difference in elevation of one feature relative to another; synonym: relief.