Which of the Following Is False

question 78

Multiple Choice

Which of the following is false?

• A) In 1965 and 1969 the U.S. federal government imposed price ceilings on gasoline.
• B) When the government imposed price ceilings on gasoline in the U.S., the result was a shortage of gasoline.
• C) If a price ceiling is imposed (below the equilibrium price) in a given market, the result is a shortage in that market.
• D) First-come-first-served is a commonly used rationing device.

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Definitions:

Legalistic Fallacy

The incorrect assumption that legal changes directly translate to social change, overlooking the gap between the law and its practical implementation or societal acceptance.

Racial Segregation

Racial Segregation is the systematic separation of people into racial or other ethnic groups in daily life, including eating in restaurants, using public bathrooms, attending schools, and living in neighborhoods.

Unconstitutional

Describes actions, laws, or policies that are deemed to violate the principles or specific provisions of a country's constitution.

Individualistic Fallacy

The misconception that societal issues can be explained solely by individual actions and responsibilities, neglecting systemic or structural factors.