Which of the Following Is an Accurate Statement About the Consequence

question 153

Multiple Choice

Which of the following is an accurate statement about the consequence of a binding price floor?

• A) Binding price floors do not allow sellers to receive a higher price if they sell the product in the legal market.
• B) Binding price floors encourage the formation of a black market.
• C) Binding price floors discourage the formation of a black market.
• D) Binding price floors create a shortage of the product.
• E) Binding price floors cause consumers to want to purchase more of the product in the legal market.

---

Definitions:

Neanderthals

An extinct species or subspecies of archaic humans who lived in Eurasia until about 40,000 years ago, known for their contribution to the genetic makeup of modern humans.

Mortality Rates

The measure of the number of deaths in a particular population, typically expressed per 1000 individuals or a similar unit, over a specific period of time.

Overregularizations

A language development stage where children apply general grammatical rules too broadly, often resulting in grammatical errors.

Behaviourist Model

A theory of learning based on the principle that behavior is conditioned by environmental stimuli and responses, without the need for the involvement of mental states.