A Price Ceiling Means That

question 125

Multiple Choice

A price ceiling means that:

• A)there is currently a surplus of the relevant product.
• B)government is imposing a legal price which is below the equilibrium price.
• C)government wants to stop a deflationary spiral.
• D)government is imposing a legal price which is above the equilibrium price.

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Definitions:

Decision Makers

Decision makers are individuals or groups responsible for making choices or decisions that will influence the outcome of a specific task, project, or strategy.

Minimum Payment Amounts

The lowest amount of money that one is required to pay on a credit card bill or loan each month.

Credit Card Companies

Businesses that issue credit cards to consumers, facilitating electronic payment transactions and often offering credit facilities.

Monthly Credit Card Statements

Periodic summaries sent by credit card companies to cardholders, listing purchases, payments, and other transactions for the month.