Government Intervention in the Form of Price Floors or Price

question 121

Multiple Choice

Government intervention in the form of price floors or price ceilings will:

• A)always enhance the efficiency of the market.
• B)result in either surpluses or shortages.
• C)move the market toward its equilibrium quantity more quickly.
• D)often be seen as necessary to decrease the existence of black markets.

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Definitions:

Implicit Premise

A foundational belief or assumption that is not directly stated but is necessary for the argument to hold.

Country Club

A private club, often encompassing leisure sports facilities like golf and tennis, and dining and social events, accessible usually to members and their guests.

Explicit Premise

A clearly stated proposition in an argument that is offered to support the truth of the conclusion.

Implicit Premise

An unstated assumption that is necessary for an argument to hold together or make sense, assumed to be true without being expressed outright.