What Are the Major Problems That Will Tend to Arise

question 214

Multiple Choice

What are the major problems that will tend to arise if there are legal limits on the movement of prices?

• A)favoritism and corruption of officials and market participants 
• B)unenforceability of laws and higher costs of transactions 
• C)increasing restrictions to enforce the laws 
• D)misallocation of resources as prices no longer correspond to costs 
• E)All of the above are correct.

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Definitions:

National Ambient Air Quality Standards

Standards set by the Environmental Protection Agency (EPA) for the quality of outdoor air in the United States to protect public health and the environment.

Injunction

A court order either forcing a party to do something or prohibiting a party from doing something.

Nuisance

Nuisance is a legal term referring to an act, condition, or thing causing inconvenience or damage to the public or to individuals, particularly in the enjoyment of private rights.

Implementation Plan

A strategic outline that details the steps, resources, and timeline necessary to execute a project or initiative.