If the supply curve for housing has the usual positive slope, rent controls are likely to
A. increase the quantity of housing.
B. improve the quality of housing.
C. aggravate the housing shortage.
D. help low-income families find suitable housing.
E. increase the demand for housing.
Answer: C
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A market equilibrium:
A. leaves unexploited opportunities for individuals. B. exploits all gains achievable through collective action. C. leaves no unexploited opportunities for individuals. D. maximizes total economic surplus.
A) The demand for shoes in Cadbia is given by Qd = 300 - 25P and the supply of shoes is given by Qs = 100 + 25P
If the world price of shoes is $8, will Cadbia import or export shoes? b) The demand for dark chocolates in Cadbia is given by Qd = 300 - 10P and the supply of dark chocolates is given by Qs = 100 + 10 P. If the world price of dark chocolates is $6, will Cadbia import or export chocolates?
Which of the following is not a reason why low-income countries might experience low economic growth?
A) The country has a good education system. B) The country has a low rate of saving and investment. C) The country has endured extended periods of war. D) The country fails to enforce a rule of law.
In the market for labor, the monopsonist is the sole:
A. seller and can push wages down, below the competitive wage. B. buyer and can keep wages up, above the competitive wage. C. buyer and can push wages down, below the competitive wage. D. seller and can keep wages up, above the competitive wage.