If a Market Is Initially Operating Competitively and Then the Government

question 12

Multiple Choice

If a market is initially operating competitively and then the government imposes a price floor above the equilibrium price,

• A)there will be more resources will be devoted to the production of this product
• B)quantity demanded will rise
• C)producer surplus will fall in the short run
• D)imposition of the floor is probably a positive-sum game
• E)consumer surplus will fall

---

Definitions:

Curricular Content

The material, topics, and themes that are included in the learning program or syllabus for a course of study in educational settings.

Native-Focused

Programs, policies, or initiatives specially designed to address the interests, needs, or issues of indigenous peoples.

Family-Friendly

Designed or considered to be suitable and accommodating for families, especially those with children.

Common Core

A set of academic standards in mathematics and English language arts/literacy that outline what a student should know and be able to do at the end of each grade.