Price Controls

question 174

Multiple Choice

Price controls:

• A)always increase economic efficiency.
• B)always lead to more equitable results.
• C)can result in inequitable outcomes.
• D)are always set below the equilibrium price.

---

Definitions:

Thomas Paine

A political philosopher and writer who played a significant role in the American Revolution, best known for his works "Common Sense" and "The American Crisis."

Spanish Established

Refers to institutions, settlements, or cultural practices founded or brought to regions around the world by the Spanish during their explorations and conquests.

Declaration of Independence

A foundational document proclaimed on July 4, 1776, declaring the thirteen American colonies' independence from British rule.

French and Indian War

A conflict between Great Britain and France (1754-1763) in North America, part of a larger imperial struggle, the Seven Years' War, involving native American allies on both sides.