During the American Revolution, the Pennsylvania legislature enacted price controls on essential commodities. The result of this legislation was
a. a large increase in the availability of those items, ending shortages.
b. a severe shortage of those essential commodities.
c. an increase in the price of those items, thus alleviating shortages.
d. new efforts to increase production of those commodities.
e. a minor inconvenience as persons adjusted to the new law.
b
Economics
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Refer to Figure 7-1. Suppose the government allows imports of leather footwear into the United States. What will the market price be?
A) > $24 B) $24 C) $30 D) $54
Economics
One purpose of discretionary fiscal policy is to
A. increase government spending during a recession. B. reduce inflation during an expansion. C. reduce inflation during a recession. D. increase taxes during an expansion.
Economics