Although Wage and Price Controls Can Potentially Be Effective in Reducing

question 66

Multiple Choice

Although wage and price controls can potentially be effective in reducing inflation,economists generally oppose them because:

• A) the more effective they are in holding down prices, the more they cause shortages.
• B) all economists are always opposed to any government intervention.
• C) they shift the long-run Phillips curve to the right.
• D) they shift the short-run Phillips curve down.

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