A Price Floor Means That

question 112

Multiple Choice

A price floor means that

• A)inflation is severe in this particular market.
• B)sellers are artificially restricting supply to raise price.
• C)government is imposing a maximum legal price that is typically below the equilibrium price.
• D)government is imposing a minimum legal price that is typically above the equilibrium price.

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Definitions:

Biological Clock

An internal timing mechanism in organisms that controls the cycle of daily activities, such as sleep and wakefulness, based on a roughly 24-hour period.

Subjective Night

The time during a 24-hour period when the biological clock is telling a person to go to sleep.

Melatonin Flux

Variations in the levels of melatonin, a hormone that regulates sleep-wake cycles, typically influenced by light exposure.

Disruptive Malaise

A state of general discomfort or uneasiness, whose exact cause is difficult to identify, that disrupts regular functioning or well-being.