In General,price Controls Have A

question 50

Multiple Choice

In general,price controls have a:

• A) larger effect in the long run because demand and supply become more elastic over time.
• B) larger effect in the short run since demand and supply become more elastic over time.
• C) smaller effect in the long run since demand and supply become less elastic over time.
• D) smaller effect in the short run because demand and supply become less elastic over time.

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Definitions:

Planetary Gearset

A mechanical system that consists of one or more outer gear wheels (planet gears) revolving around a central (sun) gear.

Carrier

A part of a vehicle’s differential that houses the differential gears, supporting them and distributing torque to the wheels.

Sun Gear

A central gear which is part of a planetary gear system, interacting with planetary gears to transmit power in automatic transmissions and other mechanisms.

Hydromechanical Transmission

A type of transmission that combines hydraulic and mechanical systems to transfer power from the engine to the wheels or other machinery.