Total Surplus in a Market Will Increase When the Government

question 102

Multiple Choice

Total surplus in a market will increase when the government

• A)imposes a tax on that market.
• B)imposes a binding price floor on that market.
• C)removes a binding price ceiling from that market.
• D)None of the above is correct.

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Definitions:

Defect

A shortcoming, imperfection, or lack in a component, system, or person that may cause it or them not to meet certain standards.

Types

Categories or distinct groups into which entities with common characteristics or attributes are divided.

Belief in a Just World

A psychological tendency to believe that the world is fundamentally fair, leading individuals to rationalize an otherwise inexplicable injustice as deserved by the victim.

Stressful Situations

Circumstances or events that cause a state of strain or tension, often triggering the body’s response to perceived threats or challenges.