The USGovernment Restricts the Production of Peanuts by Limiting Production Licenses

question 49

Multiple Choice

The U.S.government restricts the production of peanuts by limiting production licenses.By also prohibiting imports, the government maintains prices well above levels peanut farmers would obtain if supply were not restricted.Economists call this type of program a(n)

• A)price ceiling.
• B)price floor.
• C)opportunity cost.
• D)shortage.
• E)efficiency move.

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Definitions:

Pupil

The adjustable opening in the center of the eye that allows light to enter and reach the retina, varying in size to regulate the amount of light intake.

Lens

A piece of transparent substance, usually glass or plastic, that refracts or focuses light rays, used in optical devices like glasses or cameras.

Neural Impulses

Electrical signals that travel along neurons, facilitating communication within the nervous system.

Receptor Cells

Specialized cells that respond to specific kinds of energy, such as light, sound, or chemicals, and convert them into neural signals.