With rent-controlled, why do landlords not want to put more investments into their old buildings with such great views as New York?

Q: Would increasing the amount of the federal minimum wage hurt the US economy? What have economists…

A: in general , economy operates at market mechanism but sometimes market fail and neglect the most…

Q: Show how moving from a lump sum tax to a linear tax affects outcomes in terms of output and work…

A:

Q: Question 14 True or False:  Economists generally support rent controls because they believe that…

A: Answer: Rents controls are used by the government with the aim to keep the price of houses…

Q: Analyze the relation between the five forces and different market structures.

A: The collective strength of these forces determines the ultimate profit potential of an industry. The…

Q: Do you think using we should use taxation as a redistribution tool in a country?

A: The inequality in developing as well as developed nations has increased in recent years. Taxation as…

Q: Are rent control laws helping/hurting the housing market? What are some of the advantages and…

A: Rent control is an example of the maximum price that the government fixes on the rental prices of…

Q: An alternative way of thinking about the forces that cause markets to equlibrate in the real world…

A: A market is a place which exists in the two economic agents which includes the buyers and sellers as…

Q: In the presence of market failure ,the argument for government intervention is only compelling but…

A: There are several types of “market failure,” which occurs when some attributes of the market prevent…

Q: Assuming normal demand and supply relationships, show how income transfers to consumers and…

A: The law of demand states that because of the rising prices of a commodity or services, there will be…

Q: Why do you think we should use taxation as a redistribution tool in a country?

A: Meaning of Equality and Efficiency: The term efficiency refers to the situation when an economic…

Q: Consider the supply at a price of $2. Quantity Demanded Market 12 Price Ying Som Fon Nam Gob Yam…

A: The law of supply states that there exists direct relation between price and quantity supplied…

Q: When the government levies a tax on a good, who actually bears the burden of the tax? The people…

A: When the tax is levied on the buyers, like the tax levied on the consumption of goods and services…

Q: In 1994, 565 economists sent President Bill Clinton a letter warning against the economic…

A: The price controls such as the price ceilings are considered to be good for the welfare of the…

Q: What is revenue and which of the following is an example? a. All of the people that gather during…

A: The money which the producer receives from the consumer after selling the good or service to him/her…

Q: Imagine that you work for the central bureaucracy and you need to raise revenue.  You want to use a…

A: Price elasticity measures the responsiveness in quantity demanded/supplied of a commodity to a…

Q: The federal government spends ____.     slightly more on defense than Social Security     slightly…

A: The federal government spends money on Social Security, defense, Medicare and other mandatory…

Q: Explain where, in relation to the market equilibrium price, a price floor is set in order to be…

A: Price floor: - it is a tool to control price level for any good or service. It provides a minimum…

Q: In the South after Reconstruction, what did the Democratic Party use to prevent African Americans…

A: Its goal was to remove legal hurdles that hindered African Americans from exercising their right to…

Q: Consider rent control (a price ceiling). Who does rent control intend to benefit? Discuss some of…

A: Equilibrium is achieved at the output level where number of  property demanded equals number of…

Q: If firms were controlled by workers, would they likely hire more or fewer workers? Why?

A: Introduction The topic is related to wages of the workers in firm or a company.

Q: The primary objective of rent control by the government is to_________. a. Make the landlords charge…

A: Rent control is an upper limit on rent imposed by the government.

Q: How can Price Controls destroy wealth?

A: In a market, price control refers to the situation when government impose minimum or maximum price…

Q: What is correct about rent controls? Question 4 options: They cause excess supply (or surplus) at…

A: Since you have typed multiple questions I have solved the first one for you  Rent control is the…

Q: In the Peterson Institute discussion, Greg Mankiw argues that accumulating wealth creates a…

A: Differences in earnings between education groups i.e. created by accumulating wealth create a…

Q: In his testimony before the house ways and means health subcommittee, Robert Reischauer stated that…

A: Price controls and global budgets both are cost containment strategies practiced in the field of…

Q: Which one of the two policies, a tax on pork meat consumption, or a tax on pork meat production, is…

A: Pork sector of animal husbandry is very unorganized sector. It mostly distributed under small…

Q: The most prominent example of a price floor in industrialized market economies is a minimum (or…

A: Minimum wage means that an employer cannot give a wage(w) lesser than a fixed wage(w*). Price floor…

Q: what is the size of consumer surplus when a price ceiling of $5 is imposed? 20. what is the size of…

A:

Q: in a market with a binding ceiling, an increase in the ceiling will

A: A price ceiling will be binding in the market when it is set below the market equilibrium

Q: After economics class one day, your friend suggests that taxing food would be a good way to raise…

A: A regressive tax is a type of tax that is imposed in a manner that the tax rate reduces with the…

Q: Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 15 million…

A: Tax incidence refers to the proportion in which tax is shared by the producer and consumer and it is…

Q: What are the possible reasons why the government may make a market intervention? What are the…

A: The intervention by the government is the action taken by the government which can change the…

Q: why price control did not work for sugar? Does it work for other commodities? Why or why not?

A: When the government intervenes in an otherwise free market to put some kind of restrictions on the…

Q: Present a private market or government function that could be operated more efficiently with the…

A: To start with, competition is something which brings out the best and helps the economy in overall…

Q: Are modern price controls such as ceiling and floors, similar? Why or why not?

A: In economics, the legal implementation of maximum and minimum prices for particular commodities by…

Q: Are taxation policies more effective than education policies, in reducing cigarette smoking in…

A: Education policies are based on behavioral aspect of humans ie they sought to bring a behavioral…

Q: Which is an example of a check Congress has on the judicial branch? a. reducing salaries of…

A: Which is an example of a check Congress has on the judicial branch? Correct Answer: (c) approving…