Rent controls often have adverse effects, including
A) too much housing in a community.
B) deterioration in the quality of existing rental units.
C) too much construction of new rental units in the community.
D) income transfers from the poor to landlords.
Answer: B
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An advantage of a flexible exchange rate system relative to a fixed system is that in a flexible rate system
a. currency speculation will be reduced. b. balance of payments surpluses and deficits can be dealt with using fiscal policy, not monetary policy. c. inflation will be minimized by the "discipline of the balance of payments." d. the price of imported goods will be kept relatively low. e. none of the above.
History tells us that "fine tuning" of the tax code is likely to be in the public interest
a. True b. False
The presumption that ability breeds economic success finds empirical support
Indicate whether the statement is true or false
The demand for durable goods tends to be more price elastic than the demand for non-durables
a. true b. false