Which of the Following Causes a Surplus of a Good

question 1

Multiple Choice

Which of the following causes a surplus of a good?

• A) A binding price floor.
• B) A binding price ceiling.
• C) A tax on the good.
• D) More than one of the above is correct.

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Definitions:

Gulf of Tonkin Resolution

A 1964 U.S. congressional resolution that gave President Lyndon B. Johnson broad powers to escalate the Vietnam War without a formal declaration of war.

Congress

The legislative branch of the United States federal government, composed of the House of Representatives and the Senate.

November 1963

Notable for the assassination of U.S. President John F. Kennedy on November 22, 1963, an event that shocked the world and had a lasting impact on American society and politics.

August 1964

pertains to the month and year notable for the Gulf of Tonkin incident, which led to the escalation of U.S. involvement in the Vietnam War.