Arent ceiling results in a shortage. as a result, which of the following do you expect? o a black market for apartments whereby higher rents are obtained through various other charges in the long-run, more and more people will want to become landlords discrimination as tenants choose their landlords, possibly based on race, age, or gender o a shortage of applicants for the apartments available

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level