What happened as a result of the elimination of price controls on oil and gasoline in 1981?
A) The supply of gas and oil declined.
B) The shortage of gasoline was eliminated nearly overnight.
C) The price of oil increased dramatically, and stayed high until the early 1990s.
D) The shortage of gasoline was eliminated, but it took several years.
Correct Answer:
Verified
Q133: Figure: Price Ceiling in a Generic Market
Q134: Universal price controls in the Soviet Union:
A)
Q135: Use the following to answer questions:
Figure: Supply
Q136: Use the following to answer questions:
Figure: Supply
Q137: Impeding price signals by imposing price ceilings
Q139: Rent controls are:
A) an efficient and equitable
Q140: When the price ceilings on oil and
Q141: Over time, housing shortages caused by rent
Q142: How did economists try to prove that
Q143: Which is NOT a result of rent
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