If a Binding Price Ceiling Is in Place and If

question 58

Multiple Choice

If a binding price ceiling is in place and if the demand curve for the product shifts rightward,one consequence would be

• A)the quantity exchanged would increase.
• B)the quantity exchanged would remain constant.
• C)the quantity exchanged would decrease.
• D)an increase in the amount of excess supply.
• E)a decrease in the amount of excess demand.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.