Price Ceilings Would Create All of the Following Effects EXCEPT

question 240

Multiple Choice

Price ceilings would create all of the following effects EXCEPT:

• A) shortages.
• B) reductions in product quality.
• C) a misallocation of resources.
• D) maximum gains from trade.

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Definitions:

Unconscious Mind

A part of the mind that houses desires, memories, and information that are not within a person's conscious awareness, greatly influencing feelings and behaviors.

Human Behavior

The range of actions and mannerisms exhibited by humans in conjunction with their environment, influenced by culture, attitudes, emotions, values, ethics, and genetics.

Id

In psychoanalytic theory, the part of the personality structure that contains a person's basic drives and instincts, operating on the pleasure principle.

Hot Dog

A cooked sausage, traditionally grilled or steamed and served in a sliced bun as a sandwich.