The Surplus Created by a Price Floor Will Likely Be

question 104

Multiple Choice

The surplus created by a price floor will likely be

• A) smaller if the good is a necessity.
• B) larger if the good is addictive.
• C) smaller if the good is a luxury.
• D) unaffected by the time that has elapsed since the price ceiling is implemented.
• E) None of the above answers is correct.

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Definitions:

Abnormal Behavior

Actions, thoughts, or emotions that deviate significantly from the norm within a culture or society, potentially interfering with personal function.

DSM-IV

The Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, a guideline published by the American Psychiatric Association that classifies and defines mental disorders.

Clinical Disorders

Clinical disorders refer to patterns of behavioral, psychological, or biological dysfunctions that are associated with distress or impaired functioning.

DSM-IV

The fourth edition of the Diagnostic and Statistical Manual of Mental Disorders, a standardized classification manual used by mental health professionals to diagnose mental disorders.