When the Government Imposes a Binding Price Ceiling on a Competitive

question 252

True/False

When the government imposes a binding price ceiling on a competitive market, a surplus of the good arises, and sellers must ration the scarce goods among the large number of potential buyers.

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Definitions:

Neurotransmitters

Chemical messengers in the nervous system that transmit signals between neurons, or from neurons to muscles.

Antisocial Personality Disorder

A mental disorder where a person consistently shows no regard for right and wrong and ignores the rights and feelings of others.

Illicit Drugs

Substances whose production, sale, or use is prohibited or controlled by law due to their potential for abuse or addiction.

Alcohol Abuse

The excessive and harmful consumption of alcohol, leading to addiction, health problems, and impairments in social, occupational, or other important areas of functioning.