This preview shows page 1. Sign up to view the full content.
Unformatted text preview: New York City. Economic theory suggests that the below-equilibrium prices established by rent controls would a. redistribute income from tenants to landlords. b. promote a rapid increase in the future supply of housing. c. result in poor service and quality deterioration of many rental units. d. lead to a reduction in housing discrimination against minorities. 4. Which of the following is the most likely result of an increase in the minimum wage? a. an increase in the employment of unskilled workers b. a decrease in the unemployment rate of unskilled workers c. an increase in the demand for unskilled workers d. a decrease in the employment of unskilled workers Answer Key for Chapter 4 Test 1. b 2. b 3. c 4. d...
View Full Document
- Fall '08