The diagram above illustrates the market for apartments in Victoria, British Columbia.
a) If the current rent is 300 per month, is there a shortage or surplus in the apartment market and how much is the shortage or surplus? b) What is the equilibrium rent and quantity of apartments?
Question 2
Your authors argue that unsustainable booms, followed by recessionary busts, are primarily caused by the Fed's expansionary monetary policies. Which of the following serves as an exception to their claim?
A) The Great Depression of the 1930s
B) The Great Recession of the late 2000s
C) The authors admit that both of the above are exceptions.
D) The authors argue that neither of the above are exceptions, but rather strong examples.
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