Rent controls are a typical example of a price ceiling.
Please select all likely consequences of rent controls when the price ceiling is binding, there is more than one correct answer.

A. surplus of affordable housing
B. reductions in apartment quality
C. inefficient allocation of apartments
D. shortage of affordable housing

B. reductions in apartment quality

C. inefficient allocation of apartments

D. shortage of affordable housing

Explanation:

The rent control can be in terms of

B. Reductions in apartment quality  : The reductions in apartment quality could result in delayed in maintenance of the apartment or flat. The example painting, electricity, etc as there is reductions so the landlord cut the cost.

C. Inefficient allocation of apartments  :

Since the charge of the rent is gone down due to which it results into Inefficient allocation of apartments. Plus the old couple do not renting their apartment or flat because it is useful for them during holidays

D. Shortage of affordable housing

Since there is a shortage of affordable housing so the quantity demanded of the houses will go up and at the same time the rent is gone reduced

the amount of money you earn by working is your income.

the percentage of people actively looking for a job is called unemployment.