What Are the Major Problems That Will Tend to Arise

question 214

Multiple Choice

What are the major problems that will tend to arise if there are legal limits on the movement of prices?

• A)favoritism and corruption of officials and market participants 
• B)unenforceability of laws and higher costs of transactions 
• C)increasing restrictions to enforce the laws 
• D)misallocation of resources as prices no longer correspond to costs 
• E)All of the above are correct.

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Definitions:

Internal Attributions

The inference that a person's behavior is caused by their personality, disposition, or character rather than external factors.

Consistency

The quality of achieving a level of performance which does not vary greatly in quality over time.

Distinctiveness

refers to the feature or quality that makes a person or thing unique or different from others.

Consensus

a general agreement among the members of a given group or community, each of whom exercises some degree of influence.