(I)Policies Such as Price Controls,licensing Restrictions,and High Taxes That Reduce

Multiple Choice

(I) Policies such as price controls,licensing restrictions,and high taxes that reduce the volume of exchange will retard economic progress.
(II) Political instability,regulation,and high rates of taxation have undermined private ownership rights in many countries,reducing economic prosperity.

A) Both I and II are true.
B) Both I and II are false.
C) I is true;II is false.
D) I is false;II is true.