If an Effective Ceiling Price Is Placed on Gasoline Then

question 22

Multiple Choice

If an effective ceiling price is placed on gasoline then:

• A)the quantity demanded will exceed the quantity supplied.
• B)the ceiling price will be below the equilibrium price.
• C)the federal government must establish some formal system for rationing it to consumers.
• D)all of the above are likely outcomes.

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Definitions:

Sensory Receptors

Specialized cells or structures in the body that detect changes in the environment and send signals to the nervous system.

Temporal Codes

The timing patterns used in the nervous system to represent information.

Sensory Neurons

Nerve cells that are responsible for converting external stimuli from the environment into internal electrical impulses for the brain.

Synapses

The junctions through which neurons signal to each other or to other types of cells, allowing for communication within the nervous system.