If a Price Floor Is a Binding Constraint on a Market,then

question 44

Multiple Choice

If a price floor is a binding constraint on a market,then

• A)the equilibrium price must be above the price floor.
• B)the quantity demanded must exceed the quantity supplied.
• C)sellers cannot sell all they want to sell at the price floor.
• D)buyers cannot buy all they want to buy at the price floor.

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Definitions:

Test Statistic

A quantity derived from sample data that is used in a hypothesis test to determine whether to reject the null hypothesis.

T Test

A statistical test used to compare the means of two groups and determine if the differences between them are statistically significant.

Research Hypothesis

A specific, testable prediction about what you expect to happen in your study, often regarding the relationship or effect of variables.

One-Tailed Test

A directional test, reflecting a directional hypothesis.