An Outcome That Can Result from Either a Price Ceiling

question 95

Multiple Choice

An outcome that can result from either a price ceiling or a price floor is

• A)a surplus in the market.
• B)a shortage in the market.
• C)a nonbinding price control.
• D)long lines of frustrated buyers.

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Definitions:

Reliability

The degree to which an assessment tool produces stable and consistent results over time.

Predictive

Relating to the ability to forecast future events, trends, or behaviors based on current or past data.

Correlation Scores

Numerical measures that indicate the extent to which two variables fluctuate together.

0 And 1

The binary numbers used in digital computing and binary code, representing the off and on states, respectively.