The question of scarce resources and unlimited wants is addressed in

According to the classical model, prices and wages

A) must be set by government. B) move upward easily, but are "sticky" downward. C) are flexible. D) move downward easily, but are "sticky" upward.

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

a. True b. False Indicate whether the statement is true or false