Price controls in Venezuela resulted in a thriving black market in many goods.The black market arose because the price controls that were implemented by the Venezuelan government were ________ which resulted in a ________ of products.
A) price floors; surplus
B) price floors; shortage
C) price ceilings; surplus
D) price ceilings; shortage
Correct Answer:
Verified
Q144: Congress passed the Freedom to Farm Act
Q145: If the government implements a binding price
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Q147: Price floors are illegal in the United
Q148: There is a shortage of every good
Q150: Which of the following describes the difference
Q151: Which of the following is a result
Q152: All renters benefit from rent control and
Q153: Economists _ that price controls are desirable.
A)are
Q154: Rent control is an example of a
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