Rent control is an example of
A)a subsidy for low-skilled workers.
B)a price floor.
C)a price ceiling.
D)a black market.

Question

Quizplus · Accepted Answer

Rent control is a policy that sets a maximum price that landlords can charge for rent, which creates a price ceiling. This can lead to a shortage of available apartments and lower quality housing as landlords cannot afford to maintain or improve their properties. It does not provide a subsidy for low-skilled workers, create a price floor, or result in a black market.

Rent Control Is an Example of