Macroeconomics 11th Edition by Stephen Slavin

Exercise 36

Before you get started, you'll find it's much easier to answer many of these questions by first sketching a graph of a supply and demand curve. In fact, that graph will help you answer the first four questions.
Circle the letter that corresponds to the best answer.
The best way to eliminate gas lines would be to ______.
a) impose government price ceilings
b) impose government price floors
c) allow the forces of supply and demand to function
d) put price gougers in jail