An Effective Price Floor on Wheat Will

question 274

Multiple Choice

An effective price floor on wheat will

• A) force otherwise profitable farmers out of business.
• B) result in a shortage of wheat.
• C) result in a surplus of wheat.
• D) clear the market for wheat.

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Definitions:

Modern Law

Contemporary legal systems and statutes that are in effect in a jurisdiction, reflecting current values and societal norms.

Injunctions

Court orders requiring a party to do or refrain from doing specific acts.

Temporary

Describing a condition or situation that is not permanent and is expected to last only for a limited period of time.

Creditor Beneficiary

A third party to whom one or both contracting parties owe a continuing debt of obligation arising from a contract.