Which of the Following Will Tend to Occur If Price

question 213

Multiple Choice

Which of the following will tend to occur if price controls are imposed on a product?

• A)persistent shortages 
• B)illegal markets 
• C)illicit channels of distribution 
• D)industry investment slows or stops 
• E)All of the above are correct.

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Definitions:

Public Bureaucracy

The body of government officials and administrators, often career civil servants, responsible for implementing policies and administering public programs.

Profit

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes associated with them.

President's Advisers

A group of senior officials and experts who provide counsel and assistance to the President of the United States on various matters.

Cabinet

A body of advisers to the president composed of the heads of the executive departments of the government.