-If the Government Set a Price Floor at $24

question 14

Multiple Choice

-If the government set a price floor at $24

• A)there would a temporary surplus,then prices would fall to equilibrium.
• B)there would be a permanent surplus,at least until the price floor was lifted.
• C)the price floor would not have any effect on this market.
• D)the price would rise to the equilibrium price.

---

Definitions:

British Colonialism

The period of history during which Britain expanded its empire through the acquisition and management of colonies in various parts of the world.

Seventeenth-Century Britain

The period in British history from 1601 to 1700, marked by significant political, cultural, and social changes, including the English Civil War and the beginning of the British Empire.

Davis And Moore

Sociologists who proposed a functionalist theory explaining the unequal distribution of societal rewards is necessary for the stability and functioning of a society.

Theory Of Stratification

The theory of stratification involves the analysis of social inequality and the layers of hierarchy in society, often based on factors like class, race, and gender.