Which of the Following Statements About Government Price Controls Is

question 59

Multiple Choice

Which of the following statements about government price controls is most accurate.They

• A)act as a guideline to producers as to what is a fair price.
• B)inform consumers what is the maximum price they should pay.
• C)usually set upper or lower limits on prices.
• D)ensure that the actual price is at its free-market equilibrium.
• E)ensure that transactions take place at a fair price.

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Definitions:

Personal Property

Property that is movable, as opposed to real estate. It includes items like furniture, vehicles, and electronic devices.

Intermixing

The act of mixing or blending together different elements or substances.

Constitution

The fundamental principles or established precedents according to which a state or other organization is governed.

Property Ownership

The legal right or title that an individual or entity has over property, including the right to use, sell, lease or transfer it.