A Price Floor Is Binding When It Is Set

question 67

Multiple Choice

A price floor is binding when it is set:

• A)above the equilibrium price, causing a shortage.
• B)above the equilibrium price, causing a surplus.
• C)below the equilibrium price, causing a shortage.
• D)below the equilibrium price, causing a surplus.
• E)at the equilibrium price.

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Definitions:

Simple Cortical Cell

A type of neuron in the visual cortex that responds maximally to specific edge orientations or moving bars of light.

Geniculostriate Pathways

The geniculostriate pathways are a part of the visual system responsible for processing visual information, extending from the retina to the primary visual cortex via the lateral geniculate nucleus.

Tectopulvinar

Refers to the neural pathway involving the superior colliculus (tectum) and the pulvinar nucleus of the thalamus, implicated in visual attention and eye movements.

Retinohypothalamic

Relating to the neural pathway from the retina to the hypothalamus, important in regulating circadian rhythms.