If a Binding Price Floor Is Imposed on the Video

question 168

Multiple Choice

If a binding price floor is imposed on the video game market,then

• A)the demand for video games will decrease.
• B)the supply of video games will increase.
• C)a surplus of video games will develop.
• D)All of the above are correct.

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Definitions:

Judicial Review

The power of courts to assess the constitutionality of laws and government actions, striking down those that violate the constitution.

Marbury v. Madison

The 1803 Supreme Court case that established the principle of judicial review in the United States, confirming the judiciary's authority to invalidate legislation or executive actions deemed unconstitutional.

Bill of Rights

The opening ten amendments of the United States Constitution, ensuring fundamental rights and freedoms to the people of America.

Federal Circuit Court of Appeals

A court within the U.S. federal judiciary system that has appellate jurisdiction over a wide range of cases, including patent law and international trade.