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

A) True
B) False

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Figure 6-36 Figure 6-36   -Refer to Figure 6-36.If the government places a $2 tax in the market,the seller bears $1 of the tax burden. -Refer to Figure 6-36.If the government places a $2 tax in the market,the seller bears $1 of the tax burden.

A) True
B) False

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The rationing mechanisms that develop under binding price floors are usually efficient.

A) True
B) False

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The United States is the only country in the world with minimum-wage laws.

A) True
B) False

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To be binding,a price floor must be set above the equilibrium price.

A) True
B) False

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Because the supply and demand of housing are inelastic in the short run,the initial shortage caused by rent control is large.

A) True
B) False

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