Supply, Demand

Chapter 6 Supply, Demand, and Government Policies MULTIPLE CHOICE 1.Price verifys are a.used to feature grocerys more efficient. b. commonly enacted when policy shed light onrs recall that the merchandise outlay of a rock-steady or service is unsportsmanlike to buyers or sellers. c.nearly ceaselessly effective in eliminating inequities. d.established by firms with monopoly power. ANSWER: b.usually enacted when policymakers mean that the market place price of a good or service is unfair to buyers or sellers. face: M clog: 2 2.Policymakers have to enact price controls in a market because a.they trust the markets outcome to be unfair. b.enacting price controls pass on directly increase tax tax incomes. c.they are requirement by law to improve market conditions. d.they believe that the market system is inefficient and their actions will improve efficiency. ANSWER: a.they be lieve the markets outcome to be unfair. TYPE: M branch: 1 DIFFICULTY: 2 3.Policymakers are guide to control prices because a.they intellection the markets outcome as inefficient. b.they view the markets outcome as unfair. c.all politicians chouse exercising their power. d.they are required to do so at a lower place the Employment Act of 1946. ANSWER: b.they view the markets outcome as unfair.

TYPE: M SECTION: 1 DIFFICULTY: 2 4.Price controls a. endlessly generate an equitable outcome. b.always produce an efficient outcome. c.can gen erate inequities of their own. d.p! roduce gross for the government. ANSWER: c.can generate inequities of their own. TYPE: M SECTION: 1 DIFFICULTY: 2 5.Which of the quest is a reason policymakers put down taxes? a.to attempt to make markets more efficient b.to influence market outcomes c.to tolerate revenue for public use d.All of the above are correct. e. two b and c are correct. ANSWER: e. Both b and c are...If you want to get a full essay, effect it on our website: OrderCustomPaper.com

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