When a Price Floor Is Above the Equilibrium Price

question 196

Multiple Choice

When a price floor is above the equilibrium price,

• A) quantity demanded will exceed quantity supplied, so there will be a shortage.
• B) quantity supplied will exceed quantity demanded, so there will be a surplus.
• C) the market will be in equilibrium.
• D) This is a trick question because price floors are generally set below the equilibrium price.

Differentiate between autocratic and democratic leadership styles and their impact on team dynamics.

Analyze the effect of environmental and situational factors on leadership effectiveness.

Grasp the principles of the LMX model and its application in differential leadership.

Distinguish between transformational and transactional leadership and their basis of motivation.

---

Definitions:

Compassionate Leave

Time off granted to employees due to a family emergency, bereavement, or other significant personal issues, acknowledging their need for time to cope.

Major Client Meeting

A significant gathering between service providers or sellers and their key clients to discuss business matters, progress, or negotiation.

HR Manager

A professional responsible for overseeing human resources functions within a company, including recruitment, training, and compliance.

Task Goals

In an interview, asking and answering questions in a clear, concise, and thoughtful manner to convey appropriate information.