If a Price Floor Is Not Binding, Then

question 308

Multiple Choice

If a price floor is not binding, then

• A)the equilibrium price is above the price floor.
• B)the equilibrium price is below the price floor.
• C)there will be a surplus in the market.
• D)there will be a shortage in the market.

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Definitions:

Awareness

The knowledge or perception of a situation or fact, often highlighting an individual's or group's understanding of social issues or concerns.

Stepmother Family

A family structure that includes a stepmother, which means a woman who is married to one's father after the divorce or death of one's biological mother.

Lesbian Stepmother

A woman who is in a same-sex relationship with one biological parent of a child, and who may take on parental roles without being a biological mother.

Biological Mother

The woman who contributes half of the genetic material to, and carries the pregnancy of, a child.