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Matthew is a school psychologist with an incredibly large caseload. He has a psychology intern from the local college working for him this semester. The intern has had several psychological courses but no formal training in test administration. In order to save time, he has her complete several intelligent tests with students. What provision of the law was violated?
Excess Demand
A market condition where the quantity demanded of a good exceeds the quantity supplied, leading to shortages.
Good
A tangible item or product that fulfills a need or desire and is available for purchase.
Price Ceiling
A price ceiling is a government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers from high prices.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market stability.
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