Category: Economics

➤ How does a fixed long-run supply affect rents and affordability?
When supply is fixed long term, rents respond strongly to demand shifts. Increased employment or preferences raise equilibrium rents instead of quantity. That intensifies affordability problems, accelerates filtering and turnover, and can spur displacement and gentrification. Policy responses include building more housing in other corridors, rent assistance, or relaxing local constraints to expand effective supply.

is “what is your favorite color?” example of an ordinal scaled variable

In a competitive market, sellers compete with other sellers. ◻TrueFalse

Explain how social capital is generated through voluntary associations.