Price Controls: True Or False
6 Questions
| Attempts: 1038
See how much you know about price controls by answering true or false to these questions!
Questions and Answers
- 1.A binding price ceiling results in a shortage.
- A.
True
- B.
False
- 2.Price controls are generally a good way for governments to improve market outcomes.
- A.
True
- B.
False
- 3.A non-binding price floor causes a change in the market price.
- A.
True
- B.
False
- 4.A binding price ceiling reduces queuing time for consumers.
- A.
True
- B.
False
- 5.A surplus may result in an alternative rationing mechanism being developed.
- A.
True
- B.
False
- 6.The minimum wage is an example of a price ceiling.
- A.
True
- B.
False
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