Write as a Percent

question 48

Multiple Choice

Write as a percent. Round to the nearest tenth of a percent, if necessary.

• A) 5.6%
• B) 18.0%
• C) 55.6%
• D) 0.6%
• E) 1.8%

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Definitions:

Binding Price Floor

A minimum price set by the government or regulatory body that is above the equilibrium price, causing a surplus in the market.

Wheat Market

A sector of the commodities market that deals with the trading of wheat products and its derivatives.

Price Paid

The sum of currency traded in return for a product or service.

Binding Price Floor

A government-imposed minimum price set above the equilibrium price, leading to a surplus of the product in the market.