Economists in General Agree That Rent Controls Are

question 72

Multiple Choice

Economists in general agree that rent controls are:

• A)an efficient and equitable way to help low-income families.
• B)an inefficient but sometimes effective way to help low-income families.
• C)an efficient method of dealing with the shortages caused by price ceilings.
• D)the only way to solve the problem of poverty.

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Definitions:

Balance Sheet Approach

A method of estimating a company's value by focusing on its balance sheet, particularly its assets and liabilities.

Allowance for Doubtful Accounts

A contra-asset account representing the estimated portion of accounts receivable that may not be collected.

Balance Sheet Approach

A method of estimating allowances based on the balances of particular accounts, focusing on the assets and liabilities reported on the balance sheet.

Bad Debts Expense

A provision in accounting for accounts receivable that are not expected to be collected, recognizing them as an expense.