When the Government Imposes a Binding Price Ceiling on a Competitive

question 252

True/False

When the government imposes a binding price ceiling on a competitive market, a surplus of the good arises, and sellers must ration the scarce goods among the large number of potential buyers.

---

Definitions:

Embryo

The early stage of development in multicellular organisms, in humans, it refers to the stage after fertilization and before becoming a fetus.

Selective Reduction

A medical procedure used in multiple pregnancies to reduce the number of fetuses to a number safer for both the mother and the remaining fetuses.

Fertility Drugs

Medications that stimulate egg production and are used to treat infertility in women aiming to assist in conceiving.

Fetuses

A developing human from roughly eight weeks after conception until the time of birth.