Figure 4-17 -Refer to Figure 4-17. Suppose a Price Floor of $7.00

question 230

Multiple Choice

Figure 4-17
-Refer to Figure 4-17. Suppose a price floor of $7.00 is imposed. As a result,

• A) buyers' total expenditure on the good decreases by $20.00.
• B) the supply curve will shift to the left so as to now pass through the point (Q = 40, P = $7.00).
• C) the quantity of the good demanded decreases by 20 units.
• D) the price of the good continues to serve as the rationing mechanism.

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Definitions:

Ammonia

Strong-smelling inhalants used to revive a person who has fainted; also known as ammonia inhalants or spirits of ammonia.

Emergency Medical Services (EMS)

A group that provides out-of-hospital acute medical care and/or transport to definitive care to patients experiencing a medical emergency.

Consciousness

Awareness, full knowledge of what is in one’s own mind.

Chronic

Continuing a long time, recurring; not acute.