Rent control is an example of a price A. floor; in cities with rent control prices...
Rent control is an example of a price
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A. floor; in cities with rent control prices are used to ration housing.
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B. floor; in cities with rent control mechanisms other than price are used to ration housing.
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C. ceiling; in cities with rent control mechanisms other than price are used to ration housing.
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D. ceiling; in cities with rent control prices are used to ration housing.
Homework Answers
"C"
Rent control is an example of a price ceiling; in cities with rent control mechanism other than price are used to ration housing. Price mechanism are generally used to ration the distribution of the goods, apart form that government intervention in the market leads to price ceiling.
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Rent control is an example of a price
A. floor; in cities with rent control prices...
1. When will a minimum wage be an effective price control? When it is a... A....
1. When will a minimum wage be an effective price control? When it is a... A. Maximum "price" that is above the equilibrium price B. Maximum "price" that is below the equilibrium price C. Minimum "price that is above equilibrium price 2. Many major U.S. cities have adopted rent controls for some housing. An effective rent control is what kind of price control? A. A price ceiling with a maximum price above equilibrium price. B. A price floor with a...
Effects of rent control Rent controls force landlords to price apartments below the equilibrium price level....
Effects of rent control Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess demand) of apartments, because the quantity of apartments demanded is greater than the quantity supplied at the regulated price. When cities prevent landlords from charging market rents, which of the following are common long-run outcomes? Check all that apply. A) The quantity of available rental housing units falls. B) The future supply of rental housing units increases....
6. Rent control a. serves as an example of how a social problem can be alleviated...
6. Rent control a. serves as an example of how a social problem can be alleviated or even solved by government policies. b. serves as an example of a price ceiling. c. is regarded by most economists as an efficient way of helping the poor. d. is the most efficient way to allocate scarce housing resources. why a is a wrong answer?
4. Effects of rent control Rent controls force landlords to price apartments below the equilibrium price...
4. Effects of rent control Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess demand) of apartments, because the quantity of apartments demanded is greater than the quantity supplied at the regulated price. When cities prevent landlords from charging market rents, which of the following are common long-run outcomes? Check all that apply. a) Efficient use of housing space results. b) The quantity of available rental housing units falls. c)...
which of the following is an example of a price floor? a. rent controls b. restricting...
which of the following is an example of a price floor? a. rent controls b. restricting gasoline prices to $1.00 per gallon when the equilibrium price is $1.50 per gallon. c. the minimum wage d. all of the above are price floors. e. none of the above are price floors.
1. How is rent control an example of a price ceiling? 2. What predictable effects result...
1. How is rent control an example of a price ceiling? 2. What predictable effects result from price ceilings such as rent control 3. How is the minimum-wage law an example of a price floor? 4. What predictable effects result from price floors such as the minimum wage? 5. What may happen to the amount of discrimination against groups such as families with children, pet owners, smokers, or students when rent control is imposed? 6. Why does rent control often...
An economist looks at rent controlled prices as an example of a price ceiling O equilibrium....
An economist looks at rent controlled prices as an example of a price ceiling O equilibrium. price floor @ engaged price. QUESTION 7 The "work effort argument" criticizing traditional economic analyses of the minimum wage implies increased real GDP should result from any increase in the nominal minimum wage. o reduced real GDP should result from any increase in the nominal minimum wage. any increase in the nominal minimum wage reduces short-run aggregate supply increased real GDP should result from...
Minimum wage is an example of a price Minimum wage is an example of a price...
Minimum wage is an example of a
price
Minimum wage is an example of a price floor > if binding it will cause an) supply which is when [Choose ] > is greater than < [Choose] Rent control is an example of a price ceiling if binding it will cause a(n) demand > which is when [Choose ] > is greater than < [Choose]
Some cities impose rent control laws, which are price controls or limits on the price of...
Some cities impose rent control laws, which are price controls or limits on the price of rental accommodations (apartments, houses, and mobile homes). New York City alone had over two million rent-controlled apartments in the early 1950s, but onty about 27,000 as of 2014. Show the effect of a rent control law on the equilibrium rental price and the quantity of N.Y apartments Show the amount of excess demand on your supply-and-demand diagram Consider the market rental dellings in New...
34) A legal maximum price at which a good can be sold is a price: A)...
34) A legal maximum price at which a good can be sold is a price: A) stabilization. B) floor. C) support. D) ceiling 35) When supply is more elastic than demand, A) producers carry the majority of the tax burden. B) producers and consumers camy an equal amount of the tax burden. C) producers carry all of the tax burden. D) consumers carry the majority of the tax burden. 36) Which is an example involving an external benefit? A) air...
1. How is rent control an example of a price ceiling? 2. What predictable effects result from price ceilings such as rent control 3. How is the minimum-wage law an example of a price floor? 4. What predictable effects result from price floors such as the minimum wage? 5. What may happen to the amount of discrimination against groups such as families with children, pet owners, smokers, or students when rent control is imposed? 6. Why does rent control often...
An economist looks at rent controlled prices as an example of a price ceiling O equilibrium. price floor @ engaged price. QUESTION 7 The "work effort argument" criticizing traditional economic analyses of the minimum wage implies increased real GDP should result from any increase in the nominal minimum wage. o reduced real GDP should result from any increase in the nominal minimum wage. any increase in the nominal minimum wage reduces short-run aggregate supply increased real GDP should result from...
Minimum wage is an example of a
price
Minimum wage is an example of a price floor > if binding it will cause an) supply which is when [Choose ] > is greater than < [Choose] Rent control is an example of a price ceiling if binding it will cause a(n) demand > which is when [Choose ] > is greater than < [Choose]
Some cities impose rent control laws, which are price controls or limits on the price of rental accommodations (apartments, houses, and mobile homes). New York City alone had over two million rent-controlled apartments in the early 1950s, but onty about 27,000 as of 2014. Show the effect of a rent control law on the equilibrium rental price and the quantity of N.Y apartments Show the amount of excess demand on your supply-and-demand diagram Consider the market rental dellings in New...
34) A legal maximum price at which a good can be sold is a price: A) stabilization. B) floor. C) support. D) ceiling 35) When supply is more elastic than demand, A) producers carry the majority of the tax burden. B) producers and consumers camy an equal amount of the tax burden. C) producers carry all of the tax burden. D) consumers carry the majority of the tax burden. 36) Which is an example involving an external benefit? A) air...
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