If an individual had the option of receiving a cash transfer equal to the value of the housing subsidy, _____
a. they would be better off
b. they could rent better housing than the public housing
c. they could rent worse housing than the public housing
d. all of the above
e. a and b
d
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Increases in human capital can come
A) only from formal schooling. B) from employing more machinery. C) only from on-the-job experience. D) from formal education and on-the-job learning. E) from nowhere because whatever human capital an individual possesses is what he or she was born with.
Which of the following is NOT a social cost of inflation?
A. The money that people hold loses value due to the inflation tax. B. People hold smaller real balances and so have to make more frequent trips to the bank. C. Firms have to spend money to change prices more frequently. D. Inflation leads to greater variability in the relative prices charged by firms.