Why Would a Politician Find It Difficult to Remove a Binding

question 25

Multiple Choice

Why would a politician find it difficult to remove a binding price ceiling?

• A) because it greatly benefits firms,and they would spend a lot of money to lobby against the law's repeal
• B) because it greatly benefits government,which receives additional tax revenue as a result
• C) because it greatly benefits all consumers,and they are also voters
• D) because it greatly benefits some consumers who are also voters
• E) because it greatly benefits society as a whole,with all consumers able to buy as much as firms produce

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Definitions:

Landowners

Individuals or entities that have legal title to a piece of land, owning either the surface rights, subsurface rights, or both.

Warranty Deed

A deed that guarantees a clear title to the purchaser of real property.

Executed

Implemented or carried out as in the completion of a legal document or action.

Adverse Possession

Open and notorious possession of real property over a given length of time that denies ownership in any other claimant.