Question 1. The price ceilings that state and local government place on apartments will cause: A. Increases in demand. B.Increases in supply. C. Shortages. D. Surpluses. QUESTION 2. Suppose there are a series of forest fires which affect the lumber industry while, at the same time, consumers demand more wooden furniture. The wooden furniture market would experience: A. An increase in price and an indeterminate change in quantity. B. An increase in price and an increase in quantity. C. An increase in quantity and an indeterminate change in price. D. A decrease in price and an indeterminate change in quantity.

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