The textbook suggests that rent controls
A) actually contribute to the housing boom in an area where they are applied.
B) actually contribute to the housing shortage in the area where they are applied.
C) are used in a government kickback scheme.
D) have no effect on the local housing market.
B
Economics
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A loaf of bread purchased by one of your instructors would be best described as
A) an intermediate good. B) a financial asset. C) a used good. D) a final good.
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Under an infinitely inelastic supply of land, the economic rents to land ________ if the price of land doubles
A) increase by less than 100% B) double C) increase by more than 100% D) none of the above
Economics