In the Case of a Price Floor

question 22

Multiple Choice

In the case of a price floor,

• A)there will be a shortage.
• B)there is no need for government to buy any excess.
• C)government must require producers to increase production to meet demand.
• D)there is a redistribution of income from consumers to producers.
• E)supply decreases.

---

Definitions:

Decision-making Authority

The power or right vested in an individual or body to make choices and implement decisions.

Political Influence

The capacity or power of individuals or groups to alter or control the actions, policies, or decisions of political leaders or governments.

Intragenerational Mobility

Is social mobility that occurs within a single generation.

Structural Mobility

Refers to the social mobility that results from changes in the distribution of occupations.