All but which one of the following could be expected to result from rent controls?
a. an increase in housing
b. substandard housing
c. waiting lists for housing
d. a decline in apartment construction
e. black market in housing
A
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In Figure 3-7 above, when autonomous planned spending is $250, the equilibrium income level is
A) $1000. B) $1250. C) $1500. D) $2500.
The Monetary Control Act of 1980:
a. required banks to make home loans. b. eliminated many forms of competition among financial institutions. c. created sharper distinctions among various financial institutions. d. none of these.
In a competitive market, a decrease in consumer demand leads to
a. a decrease in output b. an increase in output c. economic profits d. higher prices e. technological innovation
If inflation is expected by both borrowers and lenders, then we would expect
a. real rates to be higher than nominal rates of interest. b. real rates to be equal to nominal rates of interest. c. real rates to be lower than nominal rates of interest. d. nominal rates of interest to be less than the expected inflation rate.