Rent Control

question 132

Multiple Choice

Rent control

• A)is an example of a price ceiling.
• B)leads to a larger shortage of apartments in the long run than in the short run.
• C)leads to lower rents and,in the long run,to lower-quality housing.
• D)All of the above are correct.

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Definitions:

Currency Depreciate

A decline in the value of one currency relative to another currency, which can affect international trade and economic balance.

Purchasing-Power Parity

A theory in economics that suggests that in the absence of transportation and other transaction costs, identical goods will have the same price in different markets when prices are expressed in a common currency.

Appreciate

In economic terms, it refers to the increase in value of an asset over time.

National Saving

The total amount of savings generated within a country, consisting of both private and public savings.