Price Controls Are Usually Enacted

question 135

Multiple Choice

Price controls are usually enacted

• A)as a means of raising revenue for public purposes.
• B)when policymakers believe that the market price of a good or service is unfair to buyers or sellers.
• C)when policymakers tax a good.
• D)All of the above are correct.

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Definitions:

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, which can be tested through experimentation or observation.

Phenomenon

An observable event or a remarkable occurrence that can be scientifically described or investigated.

Null Hypothesis

An empirically testable hypothesis that two phenomena are entirely unrelated except perhaps by random chance.

Confirmatory Factor Analysis

A statistical technique used to verify the factor structure of a set of observed variables.