HomeworkLib
Question

Which of the following is likely to occur after several years of relevant rent control? a...

  1. Which of the following is likely to occur after several years of relevant rent control? a )Rents exceeding the equilibrium b) An increase in available housing C) A decrease in available housing   d. ) Rents equaling equilibrium

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer: C

This is the government restriction of charging a reducing rent by landlords from tenants. Whatever limit is prescribed by the government the rent amount must not exceed that figure. Such restriction actually encourages tenants, since they are paying fewer amounts, but discourages landlords, since their earning becomes small.

Therefore, there would be a decrease in housing in the market for rent.

0 0
Add a comment
Know the answer?
Add Answer to:
Which of the following is likely to occur after several years of relevant rent control? a...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 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....

  • 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)...

  • Questions 5-9 PLEASE! . In the absence of rent control, what would the equilibrium price and...

    Questions 5-9 PLEASE! . In the absence of rent control, what would the equilibrium price and quantity be? What would be the increase from 2002 to 2003 in the quantity of housing supplied? Multi-Part Question Suppose that in 2002 the market for rented apartments in Manhattan has the following supply and demand curves: Q 4000-P QS- -1000 + 4P where P is the monthly rent. What is the equilibrium price (rent) for an apartment? How many apartments are built and...

  • 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...

  • Back to Assignment Attempts: Do No Harm: /1 3. Effects of rent control Rent controls force...

    Back to Assignment Attempts: Do No Harm: /1 3. 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. The future supply of rental housing units increases. Black...

  • Which of the following will most likely occur as the result of an unanticipated increase in...

    Which of the following will most likely occur as the result of an unanticipated increase in aggregate demand? a. an increase in output and a move to a higher price level b. an increase in prices and a long-run increase in output c. an increase in long-run aggregate supply (LRAS shifts to the right) d. a decrease in the natural rate of unemployment

  • 7. The market for rental housing in Berkeley is subject to rent-control. Before rent control, the...

    7. The market for rental housing in Berkeley is subject to rent-control. Before rent control, the compet itive equilibrium was at Pc and Q. Rent control limits the price a landlord can charge to P. The short-run supply curve is upwards sloping, and long-run supply is horizontal. (a) Is this a constant cost industry? Why? (b) What is the difference between the short-run and the long-run supply curve? (c) Comment on the efficiency of the competitive equilibrium. Is it Pareto...

  • 1) Which of the following conditions is most likely to cause the lactose operon to be...

    1) Which of the following conditions is most likely to cause the lactose operon to be transcribed? A) There is more glucose in the cell than lactose. B) There is glucose but no lactose in the cell. C) The cyclic AMP and lactose levels are both high within the cell. D) The CAMP level is high and the lactose level is low. 2) How does the transcription of structural genes in an inducible operon occur? A) It occurs continuously in...

  • Rent controls force landlords to price apartments below the equilibrium price level.

    3. 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. The quantity of available rental housing units fails. Landlords earn lower profits from renting housing units, but the rent charged has...

  • While targeting the deficit, which of the following is likely to occur after a positive aggregate...

    While targeting the deficit, which of the following is likely to occur after a positive aggregate demand shock? Select one: a. AD↑ ⇒ Y↓ ⇒ T↓ ⇒ deficit↓ ⇒ G↓ ⇒ AD↓ ⇒ Y↓ b. AD↑ ⇒ Y↑ ⇒ T↑ ⇒ deficit↓ ⇒ G↑ ⇒ AD↑ ⇒ Y↑ c. AD↑ ⇒ Y↓ ⇒ T↓ ⇒ deficit↑ ⇒ G↓ ⇒ AD↓ ⇒ Y↓ d. AD↓ ⇒ Y↓ ⇒ T↓ ⇒ deficit↑ ⇒ G↓ ⇒ AD↓ ⇒ Y↑

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT