Mal kels alu Government: End of Chapter Problem 11. In cities around the country, the government provides assistance to families with low incomes to rent apartments at prices capped by the U.S. Department of Housing and Urban Development (HUD), essentially setting a price ceiling on apartments. The designated apartments tend to rent quickly, and tenants are less likely to move once they find an apartment. Assume the price ceiling is set below market equilibrium and no government subsidies are'offered to landlords. What are the most likely outcomes in terms of availability of rent-controlled apartments and ongoing maintenance of rent-controlled apartments? The price ceiling will cause a surplus of rent-controlled apartments and the rent-controlled apartments will be less well maintained than apartments without rent controls. The price ceiling will cause a shortage of rent-controlled apartments and the rent-controlled apartments will be better maintained than apartments without rent controls. The price ceiling will cause a shortage of rent-controlled apartments and the rent-controlled apartments will be less well maintained than apartments without rent controls. O The price ceiling will cause a surplus of rent-controlled apartments and the rent-controlled apartments will be better maintained than apartments without rent controls.
Mal kels alu Government: End of Chapter Problem 11. In cities around the country, the government provides assistance to families with low incomes to rent apartments at prices capped by the U.S. Department of Housing and Urban Development (HUD), essentially setting a price ceiling on apartments. The designated apartments tend to rent quickly, and tenants are less likely to move once they find an apartment. Assume the price ceiling is set below market equilibrium and no government subsidies are'offered to landlords. What are the most likely outcomes in terms of availability of rent-controlled apartments and ongoing maintenance of rent-controlled apartments? The price ceiling will cause a surplus of rent-controlled apartments and the rent-controlled apartments will be less well maintained than apartments without rent controls. The price ceiling will cause a shortage of rent-controlled apartments and the rent-controlled apartments will be better maintained than apartments without rent controls. The price ceiling will cause a shortage of rent-controlled apartments and the rent-controlled apartments will be less well maintained than apartments without rent controls. O The price ceiling will cause a surplus of rent-controlled apartments and the rent-controlled apartments will be better maintained than apartments without rent controls.
Chapter8: Market Failure
Section: Chapter Questions
Problem 3P
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Transcribed Image Text:MarkeS and
ent: End of Chapter Problem
11. In cities around the country, the government provides assistance to families with low incomes to rent apartments at prices
capped by the U.S. Department of Housing and Urban Development (HUD), essentially setting a price ceiling on apartments.
The designated apartments tend to rent quickly, and tenants are less likely to move once they find an apartment.
Assume the price ceiling is set below market equilibrium and no government subsidies are offered to landlords.
What are the most likely outcomes in terms of availability of rent-controlled apartments and ongoing maintenance of
rent-controlled apartments?
The price ceiling will cause a surplus of rent-controlled apartments and the rent-controlled apartments will be less well
maintained than apartments without rent controls.
The price ceiling will cause a shortage of rent-controlled apartments and the rent-controlled apartments will be better
maintained than apartments without rent controls.
OThe price ceiling will cause a shortage of rent-controlled apartments and the rent-controlled apartments will be less well
maintained than apartments without rent controls.
O The price ceiling will cause a surplus of rent-controlled apartments and the rent-controlled apartments will be better
maintained than apartments without rent controls.
Question Source: Chiang 4e - Economics Principles For A Changing World Publisher: Worth Publishers
11:12 PM
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10/16/2021
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64°F Rain to stop
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Transcribed Image Text:Mld of Chapter Problem
10. Government and employer subsidies to reduce the price of health insurance have important benefits to the individual in terms
of improved health. In addition, society overall can benefit from higher levels of health care coverage.
Which of the following are external benefits that may result from increased health care coverage?
Increased cost, as people live longer.
Increased productivity for employers, as fewer sick days are taken by workers.
Less waiting for major treatments.
Reduced usage of expensive emergency room visits.
Incorrect
11:12 PM
64°F Rain to stop
10/16/2021
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