Question

Economists generally believe that rent control is Question 7 options: an efficient and fair way to help the poor. inefficient but the best available means of solving a serious social problem. a highly inefficient way to help the poor raise their standard of living. an efficient way to allocate housing, but not a good way to help the poor.

Answer 1

a highly inefficient way to help the poor raise their standard of living.

Step-by-step explanation:

Price control can be defined as standard restrictions or regulatory conditions that are typically set and enforced by the government of a country.

This ultimately implies that, price controls are used to impose the minimum and maximum prices set by the government, which are to be charged for various goods and services in the market.

Rent control can be defined as the system of laws, regulations or government legislation administered by a public institution or court of law in order to set the maximum price that can be charged by landlords. Thus, rent control is a form of price ceiling.

Generally, economists believe that rent control is a highly inefficient way to help or assist the poor raise their standard of living.

This ultimately implies that, economists generally believe that the implementation of rent control wouldn't avail the poor an opportunity or ability to improve and raise their standard of living in the society.