Which of the following is a general sustain downward moment of prices for goods and service in an economy?Which of the following is a common criticism of government price controls? ## Economics Quiz: Government Price Controls and Market Regulations### Questions and Options:**11. Which of the following is a common criticism of government price controls?**- a) They restrict the free market resulting in a surplus- b) They inefficiently use taxpayer dollars- c) They restrict the free market resulting in shortages- d) They manipulate the market to artificially raise prices**12. Which of the following is a general, sustained downward movement of prices for goods and services in an economy?**- a) Inflation- b) Stimulus- c) Disinflation- d) Deflation**13. Which of the following regulations control price fixing?**- a) Anti-trust laws- b) Stimulus bills- c) Price controls- d) Progressive tax reform---### Explanation of Terms:**Government Price Controls:**- These are government-mandated legal minimum or maximum prices set for specified goods. They are aimed at managing the affordability of goods and services in the market.**Inflation:**- A general increase in prices and fall in the purchasing value of money.**Disinflation:**- A reduction in the rate of inflation - slowing the rate at which prices are increasing.**Deflation:**- A decrease in the general price level of goods and services, which can lead to a decrease in consumer spending and potentially lead to an economic depression.**Anti-trust Laws:**- Regulations that promote competition and prevent unfair business practices such as monopolies or price fixing.**Price Controls:**- Government-imposed limits on the prices charged for goods and services in a market.### Important Notes:- This quiz focuses on understanding the impact and implications of economic policies such as price controls and market regulations. - Correctly identifying the concepts and their implications is crucial for a deeper understanding of governmental roles in economic stability and growth. ### Graphs and Diagrams:- There are no graphs or diagrams associated with these questions in the provided text. ---Feel free to use this content in your educational material. Ensuring a good grasp of these concepts is essential for students studying economics or public policy.

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Which of the following is a general sustain downward moment of prices for goods and service in an economy? Which of the following is a common criticism of government price controls?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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