-A)Is a price of $13 a price ceiling or a price floor?
B)Is there a shortage or a surplus?
C)How much is it?
Definitions:
Money Supply
The absolute total of money-related assets within an economy at a particular time.
Depository Institutions
Financial institutions that accept deposits from the public and offer lending and other financial services.
Legal Reserve Requirements
Regulations that require banks to keep a certain percentage of their deposits in reserve, either in cash on hand or as deposits with a central bank, to ensure liquidity.
Face Value
The nominal or original value stated on a coin, banknote, security, or any other financial instrument, without accounting for inflation, interest, or any other market factors.
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