An Outcome That Can Result from Either a Price Ceiling

question 95

Multiple Choice

An outcome that can result from either a price ceiling or a price floor is

• A)a surplus in the market.
• B)a shortage in the market.
• C)a nonbinding price control.
• D)long lines of frustrated buyers.

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Definitions:

Ottoman Empire

A former Turkish empire that was founded about 1300 by Osman and reached its peak during the 16th and 17th centuries, covering parts of Europe, Asia, and Africa.

Foreign Invasions

Acts of armed forces from one country entering into another country with the intention to conquer or occupy territories.

Renaissance Man

An individual who has wide interests and is expert in several areas, embodying the ideal of the Renaissance's cultural achievements.

Machiavelli

Niccolò Machiavelli, a Renaissance political philosopher from Florence, known for his work "The Prince," advocating for pragmatic and sometimes ruthless political leadership.