A Price Floor Makes Prices

question 137

Multiple Choice

A price floor makes prices

• A) below the price floor illegal.
• B) above the price floor illegal.
• C) below the equilibrium price illegal.
• D) above the equilibrium price illegal.
• E) None of the above answers is correct.

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Definitions:

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.

Imprinting

The process by which some animals exhibit the fixed action pattern (FAP) of attachment in response to a releasing stimulus. The FAP occurs during a critical period and is difficult to modify.

Cognitively Accurate

Referring to thoughts or perceptions that correctly represent reality.

Empathic

The characteristic of being able to understand and share the feelings of another person.