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CFA Level 1 Question of the Week: Economics

exam_whizexam_whiz IllinoisPosts: 68 Sr Associate
edited October 2014 in Level 1 Questions
Which of the following statements relating to obstacles to efficient allocation of resources is/are most likely incorrect?

I:   Price ceilings set below the equilibrium price lead to shortages, bribery, poor quality and black marketeering.
II:  Subsidies decrease equilibrium quantities and lead to dead weight losses from overproduction.
III: Production quotas decrease equilibrium quantities and lead to dead weight losses from underproduction.

CFA Level 1 Question of the Week: Economics 62 votes

Both statements I and II
12%
Kirby18jmsatchwellLollypollythendry7JeffryswishKpaxxTXHOKIE 8 votes
Both statements I and III
32%
PiasurangasakrishTaTeemojgattuso86tdoughty5seba216aylouis13snxxwwarsenal93PahtsanSwatiCatherinecbsmith11beastcyanideRushilSimeniFreddieavannoordsuls 20 votes
Only statement II
54%
hairyfairypolicedogmikeyGoodyearexam_whizmaboi_1damalkadhiRandallK27lawrebrec_testjak5189sharzsimply_complex2toonervakajzandDhananjaypaynec1shannondailyamgbattEprak22 34 votes
mikeypolicedogshannondaily

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