Which of the Following Is False

question 10

Multiple Choice

Which of the following is false?

• A) When the U.S.government imposed price ceilings on gasoline,the result was a surplus of gasoline.
• B) When the U.S.government imposed price ceilings on gasoline,the result was a shortage of gasoline.
• C) If a price ceiling is imposed below the equilibrium price in a given market,the result is a shortage in that market.
• D) First-come-first-served is a commonly used rationing device.

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Definitions:

Revolution

A significant change that usually occurs in a relatively short period of time, affecting societal structures, technology, or ideologies.

Basic Needs

Fundamental requirements for human survival, including food, water, shelter, and clothing.

Sustainably

Acting in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Philosophy

Philosophy is the study of fundamental questions about existence, knowledge, values, reason, mind, and language through critical, systematic analysis, and logical argumentation.