The Housing Shortages Caused by Rent Control Are Larger in the Long

question 196

True/False

The housing shortages caused by rent control are larger in the long run than in the short run because both the supply of housing and the demand for housing are more elastic in the long run.

---

Definitions:

Confidence Interval

A span of quantities, obtained from evaluating sample statistics, envisaged to enfold the value of an unascertained population characteristic.

Margin of Error

The range of values below and above a sample statistic in a survey that estimates the reliability or precision of the sample statistic as an approximation of the population parameter.

Prediction Interval

A range of values that is likely to contain the value of an unknown parameter for future observations.

Margin of Error

Margin of Error is a statistic expressing the amount of random sampling error in a survey's results, indicating the potential variability in the results.