Author Question: Price controls may be thought of as A) a restraint on the rationing function of prices. B) ... (Read 129 times)

tiara099 · **on:** Jun 29, 2018

Price controls may be thought of as

A) a restraint on the rationing function of prices.
B) useful tools that promote production.
C) necessary in market economies.
D) the freeing-up of free market forces.

Question 2

Refer to the above figure. The shape of the production possibility curve indicates that production of

A) wheat is characterized by increasing costs while the production of beans is characterized by decreasing costs.
B) wheat is characterized by decreasing costs while the production of beans is characterized by increasing costs.
C) both goods are characterized by increasing costs.
D) both goods are characterized by decreasing costs.