Suppose the Price in a Market Does NOT Adjust to Market

question 13

Multiple Choice

Suppose the price in a market does NOT adjust to market equilibrium.This is likely a result of i.a price floor or ceiling.
Ii) sticky prices.
Iii) selling illegal goods.

• A)i only
• B)ii only
• C)i,ii and iii
• D)i and iii
• E)i and ii

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Definitions:

Body Servants

Enslaved or servant individuals who worked closely with their masters or mistresses, performing personal tasks such as dressing, bathing, and grooming; these roles often, but not exclusively, existed within the context of slavery.

Confederate Army

The military force representing the Confederate States of America during the American Civil War (1861-1865), which fought against the Union.

Hospital Attendants

Healthcare workers responsible for the non-medical care of patients, such as helping with basic needs and ensuring comfort in hospitals.

Female Contrabands

Refers to women and girls who escaped slavery and sought protection behind Union lines during the Civil War.