100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Chapter21 Question and answers already passed 2024/2025 Question and answers correctly solved 2024/2025 $11.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. APTD - Associate Professional In Talent Development
  4.  
  5. APTD - Associate Professional in Talent Development

Exam (elaborations)

Chapter21 Question and answers already passed 2024/2025 Question and answers correctly solved 2024/2025

 0 purchase
  • Course
  • APTD - Associate Professional in Talent Development
  • Institution
  • APTD - Associate Professional In Talent Development

Chapter21 Question and answers already passed 2024/2025 Question and answers correctly solved 2024/2025 Question and answers correctly solved 2024/2025 Chapter 6 The graph below depicts the market for rental apartments. The market equilibrium rent is $1,000 per month, at which 1,200 apartment...

[Show more]

Preview 2 out of 10  pages

Document information

  • September 14, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • APTD - Associate Professional in Talent Development
  • APTD - Associate Professional in Talent Development

Seller

avatar-seller
flyhigher329

Reviews received

Content preview

Chapter 6
The graph below depicts the market for rental apartments. The market
equilibrium rent is $1,000 per month, at which 1,200 apartments are rented.
The government imposes a price ceiling of $600 per month, as indicated by
the horizontal price ceiling (PC) line.
CHAPTER 6 QUESTION 2
At the government price ceiling of $600 per month, there is a a shortage of
(a) apartments. - correct answer ✔a. 1,200


The graph below depicts the market for rental apartments. The market
equilibrium rent is $1,000 per month, at which 1,200 apartments are rented.
The government imposes a price ceiling of $600 per month, as indicated by
the horizontal price ceiling (PC) line.
CHAPTER 6 QUESTION 2
Legally, the owner of the apartment building cannot charge more than $600
per month for rent. This does not prevent the owner from charging additional
fees on top of the rent such as a landscaping fee, key deposit, and so on. The
largest additional fee the owner could charge while still renting all 800
apartments is
$ - correct answer ✔600


Many local governments use parking meters on crowded downtown streets.
However, parking spaces along the street are typically hard to find because
the metered price is often set below the market price.
This is effectively a (a) price ceiling or price floor
that results in a (b) shortage or surplus
of parking spots. - correct answer ✔a. price ceiling
b. shortage

, The local city council passes a law that establishes a maximum rent for
apartments in your city. Which of the following is likely to happen?
- Housing is more difficult to obtain
- People will want tor rent more apartments
- More apartments will become available
- The demand for apartment will rise or shift right.
- Current renters will sublet to others at prices above the legal maximum
- Apartment quality will improve
a. likely
b. unlikely - correct answer ✔a. Housing is more difficult to obtain
People will want tor rent more apartments
Current renters will sublet to others at prices above the legal maximum
b. More apartments will become available
The demand for apartment will rise or shift right.
Apartment quality will improve


In Mumbai, there is a price ceiling on the amount of rent a tenant pays. This
price ceiling will be binding if it is set ___________ the equilibrium price of
rent.
Choose one:
A. below
B. equal to
C. above - correct answer ✔A. below


In Mumbai, there is a price ceiling on the amount of rent a tenant pays. The
binding price ceiling on rent causes which of the following? Select all that
apply.
Choose one or more:

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller flyhigher329. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67479 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$11.99
  • (0)
Add to cart
Added