Most Economists Favor Price Controls as a Way of Allocating

question 62

True/False

Most economists favor price controls as a way of allocating resources.

---

Definitions:

Bureaucracy

A system of government in which most of the decisions are made by state officials rather than by elected representatives.

Hierarchy of Authority

The arrangement or classification of individuals within an organization based on power, status, and responsibilities, creating a structure of superior and subordinate relationships.

Implementation Decisions

The actions and strategies put into place to execute policies, plans, or programs.

Executive Branch

The part of government responsible for implementing, supporting, and enforcing laws; in the U.S., it includes the President, the Vice President, and the Cabinet.