There was an extensive black market (illegal market) for many consumer products in the United States during the Second World War. A likely explanation of the black market is that:
A) the prices of goods were artificially held down by price controls.
B) black markets were legal during the war.
C) goods were not subject to price controls.
D) gasoline rationing greatly restricted civilians from driving to stores.
Correct Answer:
Verified
Q21: Suppose the government sets a price ceiling.
Q22: Narrbegin Exhibit 4.4 Demand and supply curves
Q23: An explanation for the existence of black
Q24: Narrbegin Exhibit 4.2 Supply and demand curves
Q26: If the government prevents the market price
Q27: Narrbegin Exhibit 4.2 Supply and demand curves
Q28: Narrbegin Exhibit 4.4 Demand and supply curves
Q30: Price ceilings are imposed if the government:
A)
Q49: An increase in demand and a decrease
Q79: One likely result of a price ceiling
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