The Berlin Wall Came Down in Which Year

question 48

Multiple Choice

The Berlin Wall came down in which year?

• A)1978
• B)1980
• C)1984
• D)1989
• E)1992

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Definitions:

Price Floor

A government or regulatory-imposed minimum price that can be charged for a good or service.

Quantity Demanded

The specific amount of a good or service that consumers are willing to purchase at a given price, at a particular time.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price level in a given time period.

Equilibrium Price

The price at which the inventory of goods available meets the consumer demand in the marketplace.