Why do price controls tend to create ongoing shortages or surpluses in the long run?
Question:
Why do price controls tend to create ongoing shortages or surpluses in the long run?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Price controls tend to cr...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
importance of workalike balance for women as a leader in healthcare. 1. The purpose of the research; 2. Research question/s; 3. Findings and relevant data; 4. Any recommendations and; 5. The...
-
Googles ease of use and superior search results have propelled the search engine to its num- ber one status, ousting the early dominance of competitors such as WebCrawler and Infos- eek. Even later...
-
1. In the classical model, it is thought that the long-run: A. and short-run aggregate supply curves are both upward sloping. B. aggregate supply curve is vertical and the short-run aggregate supply...
-
Shown here is a list published by Electronics Weekly.com of the top five semiconductor companies in the United States by revenue ($ billions). a. Construct a bar chart to display these data. b....
-
Suppose you jounce up and down while weighing yourself on your bathroom scale. The weight reading likewise "jounces up and down." Does this mean that the force of gravity, mg, varies when you jounce?
-
Find the inverse Laplace transform by using the partialfraction expansion method. \(\frac{4 s+5}{s^{2}\left(s^{2}+4 s+5 ight)}\)
-
Match the measures of worth in the first column with one (or more) of the analysis approaches that is (are) appropriate for that measure. Measure of Worth (a) Annual Worth (b) External Rate of Return...
-
Sorenson Manufacturing Corporation was incorporated on January 3, 2013. The corporations financial statements for its first years operations were not examined by a CPA. You have been engaged to audit...
-
An l-regular graph, l 1, is a simple graph where all of its vertices have degree l. The union of two simple graphs G G U G2 = (V U V2, E1 U E2). = (V1, E1) and G2 = (V2, E2), is the simple graph Two...
-
If the demand for a good is perfectly elastic and the supply is elastic, who will bear the larger share of the burden of a tax on the good where the tax is paid by consumers?
-
If supply is perfectly inelastic, will price controls cause a large shortage?
-
Based on the data in Exercise 4-25, prepare the closing entries for Alert Security Services Co. In Exercise 4-25, Alert Security Services Co. offers security services to business clients. Complete...
-
Gail Sak wanted to give her niece, Kim Ryan, a gift of money for her twenty-first birthday, which was two weeks away. Because she was leaving for a trip to Europe the next day, Sak gave Ryan a check...
-
What is the function of the Truth-in-Lending Act?
-
What are labor productivity and potential GDP in 2021? The first table describes an economys labor market in 2021 and the second table describes its production function in 2021. Real wage rate...
-
Explain why the data reported here might be a poor indicator of the differences in economic welfare among Canada, the United Kingdom, and the United States, but nevertheless provide the correct...
-
How is the Federal Trade Commission Act enforced?
-
What is the minimum proton energy needed in an accelerator to produce antiprotons p by the reaction p + p p + p + (p + p) the mass of a proton and antiproton is mp.
-
Halley's comet travels in an ellipti- cal orbit with a = 17.95 and b = 4.44 and passes by Earth roughly every 76 years. Note that each unit represents one astronomical unit, or 93 million miles. The...
-
1. When two people involved in an exchange say thank you afterwards, they are merely being polite. _______ (True/False) 2. Consider a transaction in which a consumer buys a book for $15. The value of...
-
1. Consider the example of Xenas copy shop. Adding a second worker increased output by 300 pages. If she added a third worker, her output would increase by fewer than ________ pages. 2. If a firm is...
-
1. Consider the example of Xenas copy shop. Adding a second worker increased output by 300 pages. If she added a third worker, her output would increase by fewer than ________ pages. 2. If a firm is...
-
Include the title of the resource and link. the resource i want to use is Google Digital Garage. Describe what aspects of the resource made it helpful for you. For example, was there something in the...
-
select the best date to lunch the marketing campaign and explain why. The marketing advertising that I have selected is Interactive Media Choices Online Advertising (Web Banners, Video...
-
Describe each section of figure the profit and social value potential. Where does the organization you are completing your Social business plan project fit on this matrix? If you were starting a...
Study smarter with the SolutionInn App