Price controls on rents are frequently implemented by governments in an effort to protect renters from high housing prices. Differentiate the type of price control used from other potential price controls, and then formulate reasons as to why governments should be careful when implementing these types of controls.(4 points)
The type of price control used to regulate rents is referred to as "rent control" or "rent stabilization." This type of control sets a maximum limit on how much landlords can charge for rent and restricts the ability to increase rents beyond a certain percentage. Rent control differs from other potential price controls, such as price ceilings or price floors, which are more commonly applied to products or services in other industries.
Reasons governments should be cautious when implementing rent control measures include:
1. Market distortion: Rent control can disrupt the balance of supply and demand in the housing market. By limiting the amount landlords can charge for rent, it can discourage new investments in rental properties and reduce the incentive for property maintenance and improvement. Consequently, this can lead to a decrease in the quantity and quality of available housing options in the long run.
2. Inefficient allocation of resources: Rent control often leads to misallocations of housing resources. Since rents are artificially held below market rates, it discourages tenants from moving or vacating their apartments, even if their housing needs change. This inflexibility can result in underutilized or improperly allocated housing units, making it difficult for new renters to find desirable accommodations.
3. Shortage of affordable housing: Ironically, rent control can contribute to a shortage of affordable housing. The limitations imposed by rent control can reduce landlords' incentives to offer rental properties, thereby decreasing the overall supply of available units. As demand persists or even increases, the scarcity of affordable housing options intensifies, and landlords might resort to alternative rental models or converting units to other uses.
4. Negative impact on property owners: Rent control can disproportionately affect property owners and landlords. When rents are controlled, property owners may face financial difficulties, preventing them from maintaining and updating their properties adequately. This can lead to the deterioration of the housing stock over time, negatively impacting tenants and overall neighborhood conditions.
Overall, while rent control aims to protect renters from high housing prices, governments should approach its implementation cautiously to avoid unintended consequences such as market distortions, inefficient resource allocation, housing shortages, and negative impacts on property owners. A balanced approach that addresses housing affordability without disrupting the functioning of the market is crucial to ensure the long-term stability and availability of housing options.
Which would be considered a reliable source?(1 point)
Responses
a blog written by an anonymous author
a blog written by an anonymous author
an opinion column in your favorite magazine
an opinion column in your favorite magazine
a biology textbook from 1920
a biology textbook from 1920
an article from a scientific journal
An article from a scientific journal would be considered a reliable source.
Which statement illustrates bias in scientific research?(1 point)
Responses
An ecologist publishes data funded by a construction company which supports their original hypothesis that an endangered animal's territory is not endangered.
An ecologist publishes data funded by a construction company which supports their original hypothesis that an endangered animal's territory is not endangered.
A microbiologist publishes data funded by the National Institutes of Health that does not support their original hypothesis.
A microbiologist publishes data funded by the National Institutes of Health that does not support their original hypothesis.
A zoologist publishes incomplete data on sloths which supports their original hypothesis and notes that more research is required.
A zoologist publishes incomplete data on sloths which supports their original hypothesis and notes that more research is required.
A botanist publishes data about plant growth that does not support their original hypothesis and is replicable.
The statement that illustrates bias in scientific research is:
An ecologist publishes data funded by a construction company which supports their original hypothesis that an endangered animal's territory is not endangered.
Question
Which question can be used to evaluate reliability of a source?(1 point)
Responses
"Is the author American?"
"Is the author American?"
“Is this data challenged by anyone in the public?”
“Is this data challenged by anyone in the public?”
“Is the research peer-reviewed?"
“Is the research peer-reviewed?"
“Is this research relevant to me?”
The question that can be used to evaluate the reliability of a source is:
"Is the research peer-reviewed?"
validity refers to(1 point)
Responses
accuracy.
accuracy.
originality.
originality.
reliability.
reliability.
consistency.
consistency.
Validity refers to accuracy.
To corroborate information is to(1 point)
Responses
find evidence that proves a scientific position.
find evidence that proves a scientific position.
find evidence that disproves a scientific position.
find evidence that disproves a scientific position.
find evidence that supports a scientific position.
find evidence that supports a scientific position.
find evidence that opposes a scientific position.
find evidence that opposes a scientific position.
Which answer is it