Government imposed price controls often lead to
A. the most efficient use of resources.
B. the equilibrium solution in terms of price and quantity.
C. maximization of profits.
D. illegal trades of the good.
Answer: D
You might also like to view...
Suppose real GDP was 100 in year 1 and 105 in year 2. The growth rate of real GDP is
A) 0.5 percent. B) 1.5 percent. C) 2.5 percent. D) 5 percent.
Karl Marx published:
a. Das Kapital. b. General Theory of Communism. c. The Wealth of Nations. d. Capitalist Manifesto.
What is the biggest reason for the pay gap among racial groups?
a. legal discrimination in favor of Asians and Caucasians b. systemic discrimination against Latinos and African-Americans c. higher educational achievement of Asians and Caucasians d. differences in job choices between the different racial groups
The unemployment rate was falling during all of the years that I was a student, but as soon as I graduated, the unemployment rate started to rise. Therefore, the job market was waiting until I started looking for employment to start to go bad. This statement is an example of
A. fallacy of logic. B. fallacy of inductive reasoning. C. ceteris paribus fallacy. D. post hoc, ergo propter hoc fallacy.