Economics

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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 -

    Which do you think is the best answer?

  • Economics -

    I have no idea.

  • Economics -

    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 -

    Economics don't generally advocate price controls. but i really don't know what the answer is

  • Economics -

    This article should help you understand price controls.

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

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