Figure SEQ Figure 1

question 12

Multiple Choice

Figure SEQ Figure 1
-In Figure 1 which of the following statements is true?

• A)When a price intervention, such as a price ceiling or floor, is imposed economic surplus increases
• B)When a price intervention, such as a price ceiling or floor, is imposed economic surplus decreases
• C)When a price intervention, such as a price ceiling or floor, is imposed economic surplus remains the same
• D)When a price intervention, such as a price ceiling or floor, is imposed economic surplus is proportionate to the change in price

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Definitions:

Clean Air Act

Legislation impacting on highway A/C systems. Introduced in 1992 and modified since, it staged the progressive elimination of chlorofluorocarbons from refrigerants.

Heat Energy

Heat Energy is a form of energy transferred between systems or objects with different temperatures, flowing from the higher temperature object to the lower temperature object.

1 lb of Water

A measure of mass equivalent to approximately 453.6 grams, often used to reference the weight of water for various scientific and technical calculations.

Btu

British thermal unit, a unit of measure for energy; specifically, the amount of heat required to raise the temperature of one pound of water by one degree Fahrenheit.