The Excess Supply Created When Governments Impose a Price Floor

question 168

Multiple Choice

The excess supply created when governments impose a price floor is:

• A) shrinking as the floor rises.
• B) the difference between the old quantity supplied and new quantity demanded.
• C) the difference between the new quantity supplied and the old quantity demanded.
• D) the difference between the new quantity supplied and the new quantity demanded.
• E) actually efficient because prices are higher for suppliers.

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Definitions:

Glomerulonephritis

An inflammation of the glomeruli, which are small blood vessels in the kidneys involved in the filtration process to form urine.

Filtrate

The liquid that has passed through a filter, which in biological contexts usually refers to the fluid extracted from blood by the kidneys during urine formation.

White Blood Cells

Cells of the immune system involved in protecting the body against both infectious disease and foreign invaders.

Renal Papillae

Renal Papillae are the apex of the renal pyramids in the kidneys that project into the minor calyx, playing a crucial role in the transport of urine to the ureter.