Over time,what happens to housing shortages caused by rent control
A) They increase, because the demand and supply curves for housing are more elastic in the long run.
B) They increase, because the demand and supply curves for housing are more inelastic in the long run.
C) They decrease, because the demand and supply curves for housing are more inelastic in the long run.
D) They decrease, because the demand and supply curves for housing are more elastic in the long run.
Correct Answer:
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Q47: Which principle is illustrated by the long-run
Q48: With a binding price floor,what will the
Q49: How is rent control best characterized
A)as a
Q50: Under rent control,what can tenants expect
A)lower rent
Q51: Which of the following is a result
Q53: Compared to Canada,what caused the shortage of
Q54: When is a price floor NOT binding
A)when
Q55: What is NOT a mechanism of rationing
Q56: Why are apartment owners less responsive to
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