Which of the Following Statements Is True About Price Ceilings

question 183

Multiple Choice

Which of the following statements is true about price ceilings?

• A) Price ceilings create surpluses for goods but shortages for services.
• B) Price ceilings cause goods to be rationed by some other means than legally determined market prices.
• C) Ration coupons are the only way to ration goods when price ceilings are in place.
• D) All of these choices are correct.

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Definitions:

Slave-Owning Class

A social class in historical contexts, particularly in the American South, that owned slaves as property for labor and economic gain.

Paternalist Ethos

A belief system advocating a hierarchical relationship between groups or individuals, whereby those in authority adopt a fatherly role of providing for and directing those under their care.

Hierarchical Society

A social system in which individuals are ranked one above the other according to status, authority, or some other criterion, creating layers of superiority and inferiority.

Sexual Exploitation

The abuse of a position of vulnerability, differential power, or trust for sexual purposes; this includes profiting monetarily, socially, or politically from the sexual exploitation of another.