In a free market for rental housing, effective rent control would have which effect?
A. It would cause a reduction in the number of available apartments.
B. It would cause an increase in the number of available apartments, since landlords would try to increase their profits through larger scale.
C. It would have no effect on the number of available apartments offered in the market.
D. The results are impossible to predict.
Answer: A
You might also like to view...
The figure above shows the marginal revenue and costs of a perfectly competitive firm. When the firm produces 170 units
A) marginal cost is less than marginal revenue. B) marginal revenue equals marginal cost. C) total revenue is less than total cost. D) total revenue equals total cost.
Suppose at the going wage rate of $20 per hour, firms can hire as many hours of janitorial services as they desire. If any firm tries to lower the wage rate to $19, it will not be able to hire any janitor
What does this indicate about the supply curve for janitorial services? A) Supply is relatively inelastic. B) Supply is perfectly elastic. C) Supply is unit-elastic. D) Supply is perfectly inelastic.
What does a production possibilities curve show?
What will be an ideal response?
The central bank of a country had, for a time, focused so strongly on reducing inflation that the level of unemployment increased beyond control. Currently, the central bank focuses so strongly on controlling unemployment that the inflation rate has increased. The main problem faced by the central bank is _____
a. it only focuses on a single factor b. it overestimates the inflation rate c. it does not consider the presence of disguised employment d. it is easily influenced by large business houses