When Government Imposes a Price Ceiling or a Price Floor

question 210

Multiple Choice

When government imposes a price ceiling or a price floor on a market,

• A)price no longer serves as a rationing device.
• B)efficiency in the market is enhanced.
• C)shortages and surpluses are eliminated.
• D)both buyers and sellers become better off.

---

Definitions:

Maslow's Needs

a hierarchy of human needs proposed by Abraham Maslow that motivates behavior, ranging from basic physiological needs to self-actualization.

Purchase

The act of buying goods or services, an exchange that involves transferring ownership from one party to another in return for money.

Message-Response Involvement

The degree to which an individual engages with and responds to a communication message.

Goal Fulfillment

The achievement of predefined objectives, personal aspirations, or targets, often resulting in satisfaction or a sense of accomplishment.