of the law led to an estimated rise in rents of nearly 40%. Using supply and demand analysis, illustrate how the law and then its elimination affected the rental housing market. Discuss the effect on the equilibrium rental price and the quantity of housing rented. 9. Suppose a law is passed banning the use of skateboards on city streets in Minneapolis, what is the likely effect of this law on the market for skateboards? Explain using supply and demand analysis. 10. The supply of frozen orange juice in the U.S. comes from Florida and Brazil. Using supply and demand curves explain the effect of a freeze that damages oranges in Florida on the price of frozen orange juice in the United States. 11. Inflation is considered as a major impediment to economic progress. Discuss the short-run and long-run consequences of an inflationary spiral. 12. State and explain the major types of unemployment. Which type of unemployment poses a major threat to the economy in the long-run? Explain. 13. The BLS indicated that in May 2007, the total labor force was 152,762,000 and the civilian non-institutional population was 231,480,000. The total number of unemployed adults was 6,819,000. Compute the following: a. Labor force participation rate.