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- The price cap concept is one of the possible government interventions in the market and means that it is the price level at which a company must sell its product, which must be below the market equilibrium price. True or FalseIf the government permanently increases the price of cigarettes, will the policy have a larger effect on smoking one year from now or five years from noweffect of fiscal and montary policy on price stability in zimbabwe
- A price floor means that: inflation is severe in this particular market. sellers are artificially restricting supply to raise price. government is imposing a maximum legal price that is typically below the equilibrium price. government is imposing a minimum legal price that is typically above the equilibrium price.What are the demand management policies that have been taken by the Indian Government.Government price controls like price ceilings and price floors will still lead to equilibrium between demand and supply. True or False
- Under rent control, bribery is a potential mechanism toA price floor, like minimum wage, will result in their being more supply than demand. True FalseWhich 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?
- Governments continue to impose price controls. Which statement is NOT a valid explanation of this? a. Price floors are often imposed because they benefit some influential sellers. b. People fear that prices will change dramatically if price controls are removed. c. Government officials often disregard warnings about the consequences of price controls. d. The model of price floors is not fully understood.When a government imposes a price ceiling, it will be forced to __________. a. Import goods. b. Buffer stock of goods c. Hoarding of goods d. Export of goods.Maximum price (price ceiling): The role of the government and further government action Calculate the effects on markets and stakeholders of maximum prices