In Order for a Price Ceiling to "Bind," It

question 36

Multiple Choice

In order for a price ceiling to "bind," it:

• A) must be set above the equilibrium price, and will likely cause a shortage.
• B) must be set below the equilibrium price, and will likely cause a shortage.
• C) must be set above the equilibrium price, and will likely cause a surplus.
• D) must be set below the equilibrium price, and will likely cause a surplus.

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Definitions:

Expressing Emotions

The act of conveying feelings and emotions through words, gestures, facial expressions, or other behaviors.

Bothering

The act of causing annoyance, worry, or discomfort to someone.

Primary Appraisals

This involves an individual's evaluation of the significance of a stressor or threatening event, assessing whether it is a harm, threat, or challenge.

Richard Lazarus

A psychologist known for his theory on stress and coping, which suggests that the experience of stress is a result of an individual's perception of stressors and their ability to manage them.