When Several Hurricanes Hit Florida in 2004, a Number of Local

question 99

Multiple Choice

When several hurricanes hit Florida in 2004, a number of local governments imposed price controls that prevented sellers from raising their prices for badly needed products like plywood and generators. In the areas where the controls were imposed, they resulted in

• A) an expanded availability of these badly needed products.
• B) a reduced availability of these badly needed products.
• C) an increase in the speed with which people recovered from the hurricanes.
• D) a more efficient allocation of these goods for which price controls were in effect.

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Definitions:

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Depreciation Table

A schedule that shows the depreciation expense, accumulated depreciation, and book value of each asset over its useful life.

Delivery Van

A Delivery Van is a type of vehicle used by businesses for the transportation of goods, products, or materials directly to customers or between locations.

Residual Value

The projected amount an asset is expected to yield when it is sold after its period of usefulness has ended.