Multiple Choice
Which of the following will most likely occur when government price controls fix the price of a good above market equilibrium?
A) Waiting lines to buy the good will develop.
B) The quality of the good will deteriorate.
C) Consumers will buy more than they would at the market equilibrium price.
D) A surplus of the good will develop.
Correct Answer:
Verified
Correct Answer:
Verified
Q16: Rent controls tend to cause persistent imbalances
Q104: Figure 4-22 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX9057/.jpg" alt="Figure 4-22
Q105: During the imposition of price controls in
Q110: Use the table below to choose the
Q125: A tax imposed on the sellers of
Q158: Rent control applies to about two-thirds of
Q167: In a market economy, which of the
Q196: When a price floor is above the
Q253: The Laffer curve indicates that<br>A) when tax
Q257: Other things constant, as the price of