Consider Figure 8.9. Your classmate looks at that chart and says, Apartment construction slowed down years before

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Consider Figure 8.9. Your classmate looks at that chart and says, “Apartment construction slowed down years before rent control was passed, and after rent control was passed, more apartments were built. Rent control didn’t cut the number of new apartments, it raised it. This proves that rent control works.” What is wrong with this argument?
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Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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