The City of Newark, New Jersey has instituted strict rent control since the 1960s in a number of neighborhoods. Rent control is an example of:

Question

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Rent control is an example of price ceiling.
Key Takeaway: Price ceilings are measures instituted by governments to set maximum prices on goods. Rent control is an example of a price ceiling to make rent affordable to low income and marginalized individuals.

The City of Newark, New Jersey Has Instituted Strict Rent