If the Government Removes a Binding Price Ceiling from a Market,then

question 86

Multiple Choice

If the government removes a binding price ceiling from a market,then the price paid by buyers will

• A)increase,and the quantity sold in the market will increase.
• B)increase,and the quantity sold in the market will decrease.
• C)decrease,and the quantity sold in the market will increase.
• D)decrease,and the quantity sold in the market will decrease.

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Definitions:

Depression

A prolonged period of severe economic downturn characterized by significant declines in income, employment, production, and sales.

Popular Front

A broad coalition of different political groups united for a common cause, often used to refer to leftist alliances.

Congress of Industrial Organizations

A federation of unions that organized workers in industrial unions in the United States and Canada from the 1930s to the 1950s.

Roosevelt Administration

Refers to the period of U.S. governance under President Franklin D. Roosevelt, known for the New Deal programs and leadership during World War II.