ADM-614 Topic 2 DQ 2 Read Rent Control and Agricultural Price Supports: Case Studies in Government Failure
Read Rent Control and Agricultural Price Supports: Case Studies in Government Failure (in Stiglitz and Rosengard, 2015, p. 211). What are the four (4) major reasons for government failure? Briefly explain each. Which of the four (4) apply to explain the excess demand created by the imposition of rent controls on New York City apartments after World War II? Explain both what “excess demand” and “rent controls” are.
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Course: ADM-614 Economics for Public
School: Grand Canyon University