When Are Price Controls Usually Used

question 30

Multiple Choice

When are price controls usually used

• A)Price controls are usually used when the market is inefficient.
• B)Price controls are usually used when policymakers believe that the market price of a good or service is unfair to buyers or sellers.
• C)Price controls are usually used when there is monopoly power in the market.
• D)Price controls are usually used when there are profits in the market.

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Definitions:

Phonological Loop

A component of the working memory model that is responsible for the temporary storage and manipulation of verbal and auditory information.

Speech-Based Information

Information conveyed through spoken language, relying on the cognitive processing of auditory verbal cues.

Subvocal Speech

A form of internal speech or silent speaking, where words are mentally pronounced without vocalization.

Parallel Distributed Processing Model

A model of brain function that proposes knowledge is represented in a network of interconnected units, mimicking neural networks, allowing for simultaneous processing of information.