Which of the Following Is Not an Example of a Price

question 93

Multiple Choice

Which of the following is not an example of a price ceiling?

• A)The Chinese government sets the price of housing in China below equilibrium.
• B)The government of the former Soviet Union set prices on food below those prevailing in the free market.
• C)In the 1970s,the Nixon administration imposed wage and price controls,thereby keeping wages and prices from rising.
• D)In the late 1970s,the U.S.government required gasoline to be sold at a price per gallon that was below what would have prevailed in a free market.
• E)The U.S.government requires that sugar be sold at a price that exceeds the world price of sugar.

---

Definitions:

Earned

Income or revenue that has been generated from business activities or investments, substantiated by the delivery of goods or services.

Adjustment

A modification or change made to financial records or statements to correct an error or reflect more accurately the financial position.

Accrued Revenues

Revenues that have been earned by providing goods or services but have not yet been received or recorded in the accounting records.

Unearned Revenues

Money received by a company for services or products yet to be delivered or performed, considered a liability until the service or product is delivered.