Which Statement(s) Is TRUE

question 52

Multiple Choice

Which statement(s) is TRUE?
I. Price floors are legally established minimum prices for goods and services.
II. Price floors create surpluses, whereas price ceilings create shortages.
III. Price floors reduce quality of goods and services.

• A) I and II only
• B) II only
• C) I, II, and III
• D) I only

---

Definitions:

Self-fulfilling Prophecy

A prediction that directly or indirectly causes itself to become true due to positive feedback between belief and behavior.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time, leading to a motivation for change.

IQ Scores

Numerical measurements that represent an individual's level of intelligence as compared with the statistical norm.

Integrated Regulation

A concept in self-determination theory where behavior is motivated by internal rewards and the process of assimilating regulations to oneself.