Crash Course: Price Controls

Crash Course: Price Controls

9th Grade

10 Qs

quiz-placeholder

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Crash Course: Price Controls

Crash Course: Price Controls

Assessment

Interactive Video

Social Studies

9th Grade

Hard

Created by

Michelle Sharper

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the purpose of President Nixon's 90-day price and wage freeze in the early 1970s?

To reduce unemployment

To fight inflation

To boost exports

To increase consumer spending

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a price ceiling?

A minimum price set by the government

A price set by consumers

A maximum price set by the government

A price set by producers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when a price ceiling is set below the equilibrium price?

It creates a shortage

It increases production

It creates a surplus

It has no effect

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country was used as an example of the negative effects of price ceilings on consumer products?

Venezuela

Mexico

Brazil

Argentina

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main argument against rent control according to economists?

It increases the quality of housing

It reduces the quantity and quality of housing available

It encourages new construction

It makes housing more affordable

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a price floor?

A maximum price set by the government

A minimum price set by the government

A price set by producers

A price set by consumers

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the main criticisms of agricultural subsidies?

They help poor farmers

They increase food production

They discourage innovation

They reduce food prices

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