Question

New housing takes some time to build, so rent control creates larger shortages in the:

New housing takes some time to build, so rent control creates larger shortages in the:

Homework Answers

Answer #2

Ans.

Rent control is the regulations made by the governments to control the rents charged by the landlords for the tenants. These laws limit the rent that the owner can charge for his house as rent. The reason for doing this is that the people who are poor or with low income group they can afford to pay the rent and are not homeless.
IN the given question if the new housing takes time to build, the rent control laws will create larger shortage of the homes in over a long period of time.

answered by: anonymous
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Rent control policies tend to cause: Select one: a. a smaller shortage of housing in the...
Rent control policies tend to cause: Select one: a. a smaller shortage of housing in the short run and a larger shortage of housing in the long run. b. a smaller surplus of housing in the short run and a greater surplus of housing in the long run. c. a larger shortage of housing in the short run and a smaller shortage of housing in the long run. d. a shortage of housing in the short run and a surplus...
the number of days it takes to build a new house has a variance of 226....
the number of days it takes to build a new house has a variance of 226. a sample of 36 new homes shows an average building time if 83 days. what is the percebt chance we can assert that the average building time for a new house is between 80-89 days
Exercise 7.1 Although adjustment to the equilibrium may take a long time in a stock-flow housing...
Exercise 7.1 Although adjustment to the equilibrium may take a long time in a stock-flow housing model, adjustment is fast under some circumstances, which makes for an easy analysis. This problem considers such a case and illustrates the effect of rent control. Suppose that the initial demand curve for housing is given by p = 3 - H, where p is the rental price per square foot of housing and H is the size of the stock in square feet....
Properties in the city of Mumbai (formerly Bombay) in India are still subject to rent–control regulations...
Properties in the city of Mumbai (formerly Bombay) in India are still subject to rent–control regulations that were imposed in 1947. At that time, thousands of people migrated into Mumbai as a result of the partition of the country into India and Pakistan. Rents were frozen at levels that prevailed in 1940, in order to prevent spikes in rental rates that might have resulted from this rapid increase in demand for housing. The questions below ask you to analyze the...
In the last couple of years housing prices in certain areas of Canada such as Toronto...
In the last couple of years housing prices in certain areas of Canada such as Toronto and surrounding areas have risen substantially. Demand is outweighing supply and therefore driving prices higher. With mortgage rates being so low over the last few years, housing is a little more affordable but the risk is substantial when rates do go up. As an example let’s look at Mike and Ike, a couple of friends just graduating university and starting their careers. They will...
A program takes time T(n) = k2n  where k is some constant and n is the input...
A program takes time T(n) = k2n  where k is some constant and n is the input size. The program is run twice on the same computer (so k is the same in both cases). The first run is with n = 4 and the time taken is 20 ms. The second run is with n = 10. What is the time taken for the second run, in milliseconds? (Type in just the number; don't type "ms" at the end.)
Read carefully the attached document and then post your comments bearing in mind the following questions:...
Read carefully the attached document and then post your comments bearing in mind the following questions: 1- What are the pros and cons of rent controls? 2- Why economists disagree on the usefulness of rent control? 3- Do you believe rent control can help the poor? Do rent controls work_ - The Economist explains.pdf If no link is opened containing the answers to be extracted This is the content .. Do rent controls work? Publication info: The Economist (Online) ;...
1.Which of the following changes would most likely occur in the Gotham housing market if the...
1.Which of the following changes would most likely occur in the Gotham housing market if the city were to add a network of bike paths? a.The supply curve would fall. b.The supply curve would rise. c.The demand curve would fall. d.The demand curve would rise. 2.Which of the following changes would most likely occur in the Gotham housing market if the city were to require developers to pay a tax on each new building? a.The supply curve would fall. b.The...
Suppose California Baptist University (CBU) is considering creating a brand new major, Medical Science, in 2016....
Suppose California Baptist University (CBU) is considering creating a brand new major, Medical Science, in 2016. If CBU sticks with its current curriculum and creates no further majors, then the annual revenue will be tuition ($11.5 million), donation ($4.4 million), and research grants ($2.5 million). At the same time, CBU incurs costs such as employee salaries ($6 million), rent ($5 million), and utilities ($2.2 million) to maintain its business annually. If CBU decides to create new majors, then there are...
From “Just-In-Time” delivery and inventory control in a warehouse, to customer service at a call center,...
From “Just-In-Time” delivery and inventory control in a warehouse, to customer service at a call center, to line management at Disneyland, sometimes knowing how many customers you have is not as important to know how fast they are piling up. In this Project you will need to collect real world data, use it to build a model, and then use that model to assess a second set of data that you will also collect. First you need to decide what...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT