Governments Continue to Impose Price Controls

question 119

Essay

Governments continue to impose price controls.Which of the following is not a valid reason for this?
A.Some people do benefit from such price controls.
B.People fear that prices will change dramatically if the price controls were removed.
C.It is politically expedient to enact regulations that benefit influential voting groups.
D.Price controls are always effective.

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Definitions:

Income Summary

An account used in the closing process that summarizes the revenues and expenses for an accounting period, ultimately reflecting the period's net income or loss.