Question
In: Economics
One of the consequences of a government imposed rent control ceiling with the ceiling set below...
One of the consequences of a government imposed rent control ceiling with the ceiling set below the equilibrium rental price is:
Select one:
a. a surplus of apartments.
b. a shortage of apartments.
c. decreased search activity of people who want to rent apartments.
d. an increase in maintenance and additional amenities like swimming pools and free cable
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
• In the summer of 1979, our government imposed a ‘price ceiling” - or price control—on...
• In the summer of 1979, our government imposed a ‘price
ceiling” - or price control—on gasoline. Why did they do this? What
was their goal? 2. What went wrong, exactly? 3. Often, when the
price of a product or service is held “too low”, a shortage
develops and ‘FOUR ALTERNATIVE FORMS OF ALLOCATION’ must step in to
take the place of the price system (the ‘highest bidder’ system).
What are these four alternative methods? Please describe each one.
4....
One common example of a price ceiling is rent control. In many cities, the local government...
One common example of a price ceiling is rent control. In many
cities, the local government places a ceiling on rents that
landlords may charge their tenants. The goal of this policy is to
help the poor by making housing more affordable. Economists often
criticize rent control, arguing that it is a highly inefficient way
to help the poor raise their standard of living. One economist
called rent control “the best way to destroy a city, other than
bombing.” The...
why would the government of a city in impose rent control? is rent control a good...
why would the government of a city in impose rent
control? is rent control a good or or not so good idea?
Assume that an effective government-imposed price on a particular good. The price is set below equilibrium....
Assume that an effective government-imposed price on a
particular good. The price is set below equilibrium. Now, the
imposed price is removed.
True, False, or Uncertain: Consumer spending on the good will
increase only if demand is inelastic. Explain your answer.
Assume that an effective government-imposed price on a particular good. The price is set below equilibrium....
Assume that an effective government-imposed price on a
particular good. The price is set below equilibrium. Now, let the
imposed price be removed. True, False, or Uncertain: Consumer
spending on the good will increase only if demand is inelastic.
Explain your answer. TRUE FALSE Uncertain Explanation:
IN THE USA 1.When rent control, or any price control, is imposed upon a market, four...
IN THE USA
1.When rent control, or any price control, is imposed upon a
market, four alternative methods of allocation emerge to determine
who gets the product or service. What are those four methods?
2.In the case of rental housing, which of the four methods may
do the greatest harm to society, in your opinion? Why?
3. What is the problem that rent control attempts to solve? That
is, what are the goals of rent control? Why does a pure...
Give one example of a government-imposed price control and explain: how it works, a situation in...
Give one example of a government-imposed price control and
explain:
how it works,
a situation in the marketplace in which you have seen it
occurring, and
what effects you see.
1.When rent control, or any price control, is imposed upon a market, four alternative methods of...
1.When rent control, or any price control, is imposed upon a
market, four alternative methods of allocation emerge to determine
who gets the product or service. What are those four methods?
2.In the case of rental housing, which of the four methods may
do the greatest harm to society, in your opinion? Why?
Under the rent controlled measures implemented by the government there was PRICE CEILING introduced in Oman....
Under the rent controlled measures implemented by the
government there was PRICE CEILING introduced in Oman. The tenants
and landlords behave differently towards the low rental values for
the buildings influencing the demand and supply side of houses in
the long run market conditions.
Answer the questions:
Q1. Describe in your own words, the expected behavior of TENANTS in
the long run. [4x1=4 Marks]
Q2. Analyse the behavior of LANDLORDS while the low rents are
observed in the market. [4x1=4...
Under the rent controlled measures implemented by the government there was PRICE CEILING introduced in Oman....
Under the rent controlled measures implemented by the
government there was PRICE CEILING introduced in Oman. The tenants
and landlords behave differently towards the low rental values for
the buildings influencing the demand and supply side of houses in
the long run market conditions.
Answer the questions:
Q1. Describe in your own words, the expected behaviour of
TENANTS in the long run.
[4x1=4marks]
Q2. Analyse the behaviour of LANDLORDS while the low rents are
observed in the market.
[4x1=4marks]
Q3....
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