What Is the Long-Run Consequence of a Price Ceiling Law

question 108

Multiple Choice

What is the long-run consequence of a price ceiling law?

• A) A surplus will continue to exist and will grow larger over time.
• B) A surplus will continue to exist and will grow smaller over time.
• C) A shortage will continue to exist and will grow larger over time.
• D) A shortage will continue to exist and will grow smaller over time.
• E) The amount of the surplus will not change.

---

Definitions:

Delusion

A false belief held with strong conviction despite superior evidence to the contrary, often occurring in psychological disorders.

Schizophrenia

A severe mental disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior.

Psychological Terms

Vocabulary or phrases used to describe concepts within the study of the mind, behavior, and emotions.

Attention-Deficit/Hyperactivity Disorder

A neurodevelopmental disorder characterized by a pattern of inattention, hyperactivity, and impulsivity that interferes with functioning or development.