Which principle is illustrated by the long-run effects of rent controls
A) Society faces a short-run tradeoff between unemployment and inflation.
B) The cost of something is what you give up to get it.
C) People respond to incentives.
D) Government can sometimes improve on market outcomes.
Correct Answer:
Verified
Q42: Figure 6-5 Q43: Where does a binding price floor in Q44: What do economists generally regard rent control Q45: Under rent control,how does bribery act as Q46: In the housing market,what effect do rent Q48: With a binding price floor,what will the Q49: How is rent control best characterized Q50: Under rent control,what can tenants expect Q51: Which of the following is a result Q52: Over time,what happens to housing shortages caused
A)as a
A)lower rent
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