When There Is a Binding Price Ceiling

question 40

Multiple Choice

When there is a binding price ceiling,

• A)there is no equilibrium.
• B)the quantity demanded does not equal the quantity supplied.
• C)all potential customers are happy because they can buy the good at a lower price.
• D)producers move production to another country.

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Definitions:

Search Warrant

An official court order authorizing law enforcement agencies to conduct a search of a place and seize evidence.

Fourth Amendment

Part of the United States Constitution that protects individuals against unreasonable searches and seizures by the government, requiring warrants to be judicially sanctioned and supported by probable cause.

Fifth Amendment

A provision in the U.S. Constitution that protects against self-incrimination, ensures due process, and prohibits double jeopardy and eminent domain without just compensation.

Sixth Amendment

An amendment to the U.S. Constitution guaranteeing rights to a fair trial for criminal defendants, including the right to a speedy trial, an impartial jury, and legal counsel.