To Say That a Price Ceiling Is Nonbinding Is to Say

question 49

Multiple Choice

To say that a price ceiling is nonbinding is to say that the price ceiling

• A)results in a surplus.
• B)is set above the equilibrium price.
• C)causes quantity demanded to exceed quantity supplied.
• D)All of the above are correct.

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Definitions:

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A type of driver’s license that permits the holder to operate certain types of vehicles, such as heavy trucks and vehicles with trailers, depending on the issuing jurisdiction.

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A type of driver's license that allows the operation of vehicles designed to transport 16 or fewer passengers, including the driver, typically personal cars.

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A state-level government agency responsible for vehicle registration, driver licensing, and enforcing motor vehicle laws.

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A legal case that addresses disputes about land use and zoning regulations.