When a Binding Price Ceiling Is Imposed on a Market

question 239

True/False

When a binding price ceiling is imposed on a market for a good, some people who want to buy the good cannot do so.

---

Definitions:

Percentile Rank

A score that indicates the percentage of scores in its frequency distribution that are equal to or below it.

Z-Scores

Statistical measures that indicate how many standard deviations an element is from the mean of a distribution.

Norm Group

A representative sample of the population by which test scores are interpreted and compared.

Normally Distributed Curve

A graphical representation of a distribution of data in which most values cluster around a central peak and taper off symmetrically towards either end, resembling a bell shape.