Those who make economic policy concerning price controls often do so in order to:
A) establish a more equitable result based on normative judgments.
B) raise revenues to support the activities of government.
C) change the facts on which economic theory is built.
D) do all of the above.

Question

Quizplus · Accepted Answer

Price controls are often implemented in order to make goods or services more affordable and accessible to a wider range of consumers. This can be motivated by a desire to achieve greater equity in distribution of resources, which is a normative judgment. Price controls are not typically implemented with the intention of raising revenues or changing the facts on which economic theory is based.

Those Who Make Economic Policy Concerning Price Controls Often Do