The Problems Created by Price Controls Become Greatest as Time

question 20

Multiple Choice

The problems created by price controls become greatest as time goes by when:

• A) supply becomes more inelastic and demand becomes more elastic.
• B) demand becomes more in elastic and supply becomes more elastic.
• C) demand and supply become more elastic.
• D) demand and supply become more inelastic.

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Definitions:

Manipulative

Employing unscrupulous, deceptive, or insidious means to influence or control others to one's own advantage.

Antisocial Personality

A personality disorder characterized by a long-term pattern of disregard for, or violation of, the rights of others, leading to significant social and interpersonal problems.

Low Intelligence

A term often used to describe a significantly lower than average cognitive ability which may impact various aspects of life.

Lack

The state of being without or not having enough of something.