A Price Ceiling Means That

question 124

Multiple Choice

A price ceiling means that

• A) there is currently a surplus of the relevant product.
• B) government is imposing a legal price that is typically below the equilibrium price.
• C) government wants to stop a deflationary spiral.
• D) government is imposing a legal price that is typically above the equilibrium price.

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Definitions:

Transport Layer

Constitutes the fourth layer of the OSI model, responsible for delivering data across network connections with proper sequencing and error control.

TCP/IP

Transmission Control Protocol/Internet Protocol, a set of networking protocols that enables communication between computers on a network.

ISP

Internet Service Provider; a company that provides customers with access to the internet and related services.

Internet Connections

The method by which computers and devices are able to access the World Wide Web and other online services.