1) Why would the Italian Government have acted in this way? 2) Describe the market for rental accomodation before and after the introduction of rent control. One immediate consequence of the legislation was the development of the Black Market. 3)How does a Black Market operate and who benefits or loses from its operation. 4) What other problems arise with rent controls? Discus two, one on the demand side and the other on the supply-side of the market. 5) What non-price techniqes of allocation could the government introducemto achive fairness, and administrative efficiency in the now regulated rental market. Descus one of each in detail. 6) In the absance of a government method of allocation what options are open to the owner of the rental property (landlords) to choose a renter. Discuss 2 in detail. 7) Describe how one of these methods operates and what advantage over the other technique. Use diagrems and discussion of diagram to support your answer.
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