Multiple Choice
In an effort to fight inflation of 18 percent per year in Venezuela, President Hugo Chávez has instituted price controls on most basic foodstuffs. Which of the following is the likely outcome of these price controls?
A) There will be shortages of most basic foodstuffs.
B) Producers will produce more food at lower prices.
C) The country's inflation rate will fall.
D) Food will become more affordable.
Correct Answer:
Verified
Correct Answer:
Verified
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