it: 1:00:00 Time Left:0:46:09 thequits Respondus LOCKDOWN DI Abhijot Singh Sidhu: Attempt 1 In 1971, the U.S. President Richard Nixon ordered a 90-day price freeze, which 3 capped the price of gasoline at a time when its price would have otherwise increased. Which of the following is/are predictable outcomes of this policy? Instruction: you may choose more than one option (be advised that wrong choices as well as failing to choose a correct option will deduct points from the points earned by choosing correct options; in any case the score cannot be negative) 3 Gasoline would have to be rationed on the basis of a mechanism other than price. CO Inflation would increase. e 4: There would be a shortage of gasoline. The U.S. economy would grow more rapidly. ge 5: 13 14 15 Question 9 (2 points) ") Listen age 6: Nick's indifference curves are circles, all of which are centered at (12, 12). Of any two indifference circles, he would rather be on the inner one than the outer one. Mark 16 17 18 the incorrect statements below. Instruction: you may choose more than one option (be advised that wrong choices Page 7: as well as failing to choose a correct option will deduct points from the points earned by choosing correct options; in any case the score cannot be negative) 19 20 21 Nick prefers (16, 17) to (10, 10). Page 8: Nick prefers (10, 17) to (10, 10)