Price Ceilings and Price Floors That Are Binding

question 189

Multiple Choice

Price ceilings and price floors that are binding

• A)are desirable because they make markets more efficient and more fair.
• B)cause surpluses and shortages to persist because price cannot adjust to the market equilibrium price.
• C)can have the effect of restoring a market to equilibrium.
• D)are imposed because they can make the poor in the economy better off without causing adverse effects.

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Definitions:

Genetic Engineering

The manipulation of an organism's genes using biotechnology, often involving the transfer of specific traits, or genes, from one organism or species to another to improve or change characteristics.

Pest-resistant

Refers to plants that have developed or been genetically modified to resist pests, reducing the need for chemical pesticides.

Disease-resistant

The ability of an organism to prevent infection or resist the effects of disease-causing pathogens through natural or genetically modified traits.

Chemical Pesticides

Substances used to kill or control the population of pests that can harm crops, animals, and humans, made from synthetic chemicals.