If a Price Above Equilibrium Is Imposed on a Market

question 59

Multiple Choice

If a price above equilibrium is imposed on a market, welfare will increase when the price control is lifted. If a price control is below equilibrium and then is repealed and allowed to rise to equilibrium, welfare in the system will increase.

• A)The first statement is true and the second is false.
• B)The first statement is false and the second statement is true.
• C)Both statements are false.
• D)Both statements are true.

---

Definitions:

Maladaptive Thoughts

Negative thinking patterns that are counterproductive or harmful to an individual's mental health or well-being.

Cognitive Therapy Techniques

Strategies used in psychotherapy to change negative patterns of thinking to improve mood and behavior.

Born Loser

A derogatory term suggesting an individual who is habitually unsuccessful or unlucky, often used to imply that failure is an intrinsic part of one's character rather than due to external circumstances.

Aversive Conditioning

A form of treatment that consists of repeated pairings of a stimulus with a very unpleasant stimulus.