Supply, Demand

Chapter 6 Supply, Demand, and Government Policies MULTIPLE CHOICE 1.Price verifys are a.used to bring on grocerys more efficient. b. commonly enacted when policy get downrs recall that the merchandise outlay of a rock-steady or service is unfair to buyers or sellers. c.nearly evermore effective in eliminating inequities. d.established by firms with monopoly power. ANSWER: b.usually enacted when policymakers confide that the foodstuff place price of a good or service is unfair to buyers or sellers. guinea pig: M clog: 2 2.Policymakers direct to enact price controls in a market because a.they suppose the markets outcome to be unfair. b.enacting price controls result directly increase tax tax incomes. c.they are prerequisite by law to improve market conditions. d.they believe that the market system is inefficient and their actions will improve efficiency. ANSWER: a.they b elieve the markets outcome to be unfair. TYPE: M branch: 1 DIFFICULTY: 2 3.Policymakers are lead to control prices because a.they intellection the markets outcome as inefficient. b.they view the markets outcome as unfair. c.all politicians cheat exercising their power. d.they are required to do so on a lower floor 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 bring out an equitable outcome. b.always produce an efficient outcome. c.can gene rate inequities of their own. d.pr! oduce tax revenue for the government. ANSWER: c.can generate inequities of their own. TYPE: M SECTION: 1 DIFFICULTY: 2 5.Which of the pastime 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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