Homework Help: Economics

Posted by Anonymous on Sunday, January 16, 2011 at 1:04pm.

When policymakers set prices by legal decree, they...?

a. obscure the signals that normally guide the allocation of society’s resources.

b. are usually following the advice of mainstream economists.

c. improve the organization of economic activity.

d. are demonstrating a willingness to sacrifice fairness for the sake of a gain in efficiency.

Economics - Ms. Sue, Sunday, January 16, 2011 at 1:09pm
Which do you think is the best answer?
Economics - Anonymous, Sunday, January 16, 2011 at 1:13pm
I have no idea.
Economics - Ms. Sue, Sunday, January 16, 2011 at 1:15pm
Do price controls cover up normal distrubtion of resources? Do economists usually advocate price controls? Do price controls improve organization? Who is sacrificing fairness when price controls are instituted?
Economics - Anonymous, Sunday, January 16, 2011 at 1:18pm
Economics don't generally advocate price controls. but i really dont know what the answer is
Economics - Ms. Sue, Sunday, January 16, 2011 at 1:29pm
This article should help you understand price controls.

http://www.econlib.org/library/Enc/PriceControls.html

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