Rent control applies to about two-thirds of the private rental housing in New York City. Economic theory suggests that the below-equilibrium prices established by rent controls would
a. create a surplus of rental housing.
b. promote a rapid increase in the future supply of housing.
c. result in poor service and quality deterioration of many rental units.
d. lead to a reduction in housing discrimination against minorities.
C
You might also like to view...
The ongoing normal creation and destruction of jobs creates
A) frictional unemployment. B) structural unemployment. C) avoidable unemployment. D) cyclical unemployment. E) destructive unemployment.
During the demographic transition the population growth rate
a. slows down b. rises c. rises and then slows down d. increases in spurts followed by long periods of stagnancy e. none of the above
Identify the correct statement form the following
a. Governance prevents buyers in the market from switching between sellers. b. The cost of ending a relationship with a buyer in the market is always high for sellers. c. Goods and the parties involved in market transactions are not interchangeable. d. At market-clearing prices participants can rest assured that shortages or surpluses will not frustrate their expectations.
Thomas Robert Malthus said that
A. our population is growing faster than our food supply. B. our food supply is growing faster than our population. C. our food supply and our population are growing at the same rate.