Wage and price controls imposed for an extended period of time are likely to result in:
A)shortages.
B)rationing.
C)black markets.
D)All of these.

Name: Wage and price controls imposed for an extended period of time are likely to result in: A)shortages. B)rationing. C)black markets. D)All of these.
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Question

Quizplus · Accepted Answer

Wage and price controls can lead to shortages as prices are kept artificially low, rationing as a method to distribute limited goods, and black markets as people seek to circumvent controls.

Wage and Price Controls Imposed for an Extended Period of Time