Multiple Choice
New York City, which has had a rent ceiling law for more than fifty years, has many abandoned apartment buildings throughout the city. Which of the following explains this?
A) Few workers with jobs in the city want to live in there because of pollution.
B) No building permits for new apartment buildings have been issued for over fifty years.
C) Once any building gets so old, it is abandoned.
D) Landlords have no incentive to finance maintenance and remodeling of apartment buildings.
E) Rent ceilings make the construction of new buildings so profitable that old buildings are simply abandoned.
Correct Answer:
Verified
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