1. Voting for the government to institute a price below market equilibrium, the price ceiling, is a great way to get more gas to people for less money.

true or false

2. Based on Mr. Clifford's video, government attempts to control and manipulate prices will usually result in a misallocation of resources.

true or false

3. A price floor is the maximum price you may charge for an item.

true or false

4. A price floor set above the market equilibrium price will generally cause a ["surplus", "shortage"] . A price ceiling set below equilibrium will lead to a ["shortage", "surplus"] .

5. A price ceiling set above the market equilibrium price will have no effect on the market.

true or false