A. There may be long lines of buyers waiting for apartments
B. Landlords may discriminate among apartment renters
C. Landlords may be offered bribes to rent apartments
D. there will be a storage of housing
E. the quality of apartments will improve
A. demand curve downward by the size of the tax per unit.
B. supply curve downward by the size of the tax per unit
C. demand curve upward by the size of the tax per unit.
D. supply curve upward by the size of the tax per unit
A. above the equilibrium price
B. below the equilibrium price
C. precisely at the equilibrium price
D. at any price because all price ceilings are binding constraints
A. a shortage or a surplus depending on whether the price ceiling is set above or below the equilibrium price
B. a surplus
C. a shortage
D. an equilibrium
A. always determines the price at which a good must be sold
B. sets a legal maximum on the price at which a good can be sold
C. is not a binding constraint if it is set above the equilibrium price
D. sets a legal minimum on the price at which a good can be sold
A. the tax burden falls most heavily on the buyers.
B. the buyers bear the burden of the tax
C. the sellers bear the burden of the tax
D. the tax burden on the buyers and sellers in the same as an equivalent tax collected from the sellers
A. a teenage worker with few qualifications.
B. A manual worker with fifteen years of work experience
C. A professional worker with university degree.
D. All there are equally likely to find it difficult to get a job
A. falls more heavily on sellers
B. falls entirely on sellers
C. falls more heavily on buyers.
D. is evenly distributed between buyers and sellers.