A Nonbinding Price Ceiling

question 534

Multiple Choice

A nonbinding price ceiling
(i) causes a surplus.
(ii) causes a shortage.
(iii) is set at a price above the equilibrium price.
(iv) is set at a price below the equilibrium price.

• A)(i) only
• B)(iii) only
• C)(i) and (iii) only
• D)(ii) and (iv) only

---

Definitions:

Stress

The body's response to any demand or challenge, which can be physical, mental, or emotional.

Degree of Control

Refers to the extent to which individuals can influence or manage conditions or situations in their environment.

Seriousness

The condition or quality of being of significant importance or gravity.

Appraisal

the act of evaluating or estimating the nature, quality, or significance of something, often involving judgment or assessment.