A Consequence of Either a Price Ceiling or a Price

question 62

Multiple Choice

A consequence of either a price ceiling or a price floor is

• A) a nonbinding price control.
• B) a market surplus.
• C) a market shortage.
• D) waiting lines.
• E) Price floors and price ceilings cannot have an identical outcome.

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Definitions:

Pretest and Posttest

Assessment tools used before and after an intervention to measure the effectiveness of that intervention.

Experiments

Methodological approaches and techniques in research designed to test hypotheses under controlled conditions to establish cause-and-effect relationships.

Variable

is a characteristic, number, or quantity that can be measured or quantified and can vary among individuals or over time.

Intervention

The act of becoming involved in an issue, problem, or conflict to alter the outcome or influence the situation.