Refer to the Following Graph

question 94

Multiple Choice

Refer to the following graph. A government-imposed price floor of $2 will result in:

• A) neither excess supply nor excess demand since it is binding.
• B) neither excess supply nor excess demand since it is not binding.
• C) an excess demand of 2.
• D) an excess supply of 2.

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Definitions:

Ectoderm

The outermost layer of cells or tissue of an embryo in early development, giving rise to the outer layer of skin, nerves, and brain.

Germ Layer

One of the primary layers of cells (ectoderm, mesoderm, or endoderm) in the early embryo that will differentiate into various tissues and organs.

Pituitary Gland

a small, pea-sized gland located at the base of the brain, responsible for controlling important functions in the body through the release of hormones.

Ectoderm

The external layer of cells or tissues in an embryo during its initial stages of growth, which develops into the skin's outer layer, the brain, and the nervous system.