Price Ceilings and Price Floors

question 172

Multiple Choice

Price ceilings and price floors:

• A)cause surpluses and shortages respectively.
• B)make the rationing function of free markets more efficient.
• C)interfere with the rationing function of prices.
• D)shift demand and supply curves and therefore have no effect on the rationing function of prices.

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Definitions:

Eukaryote

An organism whose cells contain a nucleus enclosed within membranes, distinct from prokaryotes, which lack such a nucleus.

Non-breeding Individuals

Organisms that are not currently involved in producing offspring, either due to life stage, season, or other biological or environmental factors.

Species

A basic unit of biological classification, defined as a group of organisms capable of interbreeding and producing fertile offspring.