If a Binding Price Ceiling Is in Place and If

question 11

Multiple Choice

If a binding price ceiling is in place and if the demand curve for the product shifts rightward, one consequence would be

• A) the quantity exchanged would increase.
• B) a decrease in the amount of excess demand.
• C) the quantity exchanged would remain constant.
• D) the quantity exchanged would decrease.
• E) an increase in the amount of excess supply.

---

Definitions:

Elaborative Rehearsal

A technique for remembering information by relating it to already known information and concepts, enhancing its memorability.

Phrase

A Phrase is a group of words that works together as a unit, lacking both a subject and predicate, and functions as a part of speech within a sentence.

Elizabeth Loftus

A cognitive psychologist known for her research on human memory, especially regarding the malleability of memories and the misinformation effect.

Estimate

The process of making an educated guess or calculation based on limited information.