Situation 4-1

-Refer to Situation 4-1.An economist would predict that once price controls were abolished in the spring of 1974,

Name: Situation 4-1 -Refer to Situation 4-1.An economist would predict that once price controls were abolished in the spring of 1974,
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Question

Situation 4-1
 
-Refer to Situation 4-1.An economist would predict that once price controls were abolished in the spring of 1974,

Quizplus · Accepted Answer

Once price controls were abolished, the shortage of gasoline would go away as prices would be allowed to rise to the equilibrium level, balancing supply and demand.

Situation 4-1 -Refer to Situation 4-1.An Economist Would Predict That Once Price