The above table gives the demand schedule and the supply schedule ...

[dalyningkenk]

The above table gives the demand schedule and the supply schedule for housing in Anytown, U.S.A. If a rent ceiling of 600 was imposed in the housing market, then
 
  A) there would be a surplus of apartments.
  B) there would be a shortage of apartments.
  C) the market would reach equilibrium at the quantity of 60 housing units.
  D) the supply of housing would increase.

Question 2

If a country imposes a tariff on an imported good, the tariff ________ the price in the importing country and ________ the quantity of imports.
 
  A) raises; decreases
  B) raises; increases
  C) raises; does not change
  D) lowers; does not change

[Loise Hard]

Answer to Question 1

C

Answer to Question 2

A