If the Millennium Development Goals Are Achieved by 2015

question 34

Multiple Choice

If the Millennium Development Goals are achieved by 2015,

• A)at least 30 developing countries will move into the developed category.
• B)more than 400 million people will be lifted out of extreme poverty.
• C)the population of the world will stop increasing.
• D)people in the developing world will all have basic medical coverage.

---

Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers.

Price Floor

A government-imposed minimum price charged for a good or service, typically above the equilibrium price, to prevent prices from falling too low.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.

Surplus

The situation in which the quantity of a good or service supplied exceeds the quantity demanded at the current price; often occurs in markets where a price ceiling prevents the price from rising to its equilibrium level.