With Respect to Some Commodity, X, If Government Objectives Are

question 96

Multiple Choice

With respect to some commodity, X, if government objectives are to (1) restrict production and (2) keep prices down to protect consumers, then legislated price ceilings will

• A) be a dismal failure as neither goal can ever be achieved with price ceilings.
• B) satisfy both goals as long as a black market does not develop.
• C) only have an effect on commodities at the international level.
• D) satisfy only the second goal if a black market develops.
• E) satisfy both goals but only if a black market develops.

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Definitions:

Hemorrhoid

Swollen and inflamed veins in the lower rectum or anus, often causing discomfort, bleeding, and itching.

Anal Canal

The terminal section of the large intestine, through which feces are excreted from the body.

Dilated Vein

A vein that has become enlarged and swollen, often visible under the skin, sometimes indicative of underlying health issues.

Alimentary Canal

The intestinal tract, from the esophagus to the rectum, and accessory organs.