Who benefits primarily from rent controls?
A) construction workers
B) poor people looking for low-income housing
C) all who want to rent
D) only renters who are able to get units at below-market rates
Answer: D
You might also like to view...
The concept of depreciation while widely employed, has little economic basis
a. True b. False
For a country in the process of development, a high saving rate is generally
A. helpful, because it makes resources available for investment. B. helpful, because it causes a rapid growth of aggregate demand and thus makes it easier to capture economies of scale. C. harmful, because it causes a stagnation of aggregate demand. D. harmful, because it promotes imports of consumer goods.
Suppose the economy is at a short-run equilibrium GDP that lies below potential GDP. Which of the following will occur because of the automatic mechanism adjusting the economy back to potential GDP?
A) Output will decrease. B) Prices will increase. C) Unemployment will rise. D) Short-run aggregate supply will shift to the right.
Refer to Figure 7.1. Suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes. In this case, the property rights belong to
A) Angus. B) Dudley. C) no one. D) both Angus and Dudley.