Which Statement(s) Is TRUE

question 52

Multiple Choice

Which statement(s) is TRUE?
I. Price floors are legally established minimum prices for goods and services.
II. Price floors create surpluses, whereas price ceilings create shortages.
III. Price floors reduce quality of goods and services.

• A) I and II only
• B) II only
• C) I, II, and III
• D) I only

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Definitions:

Olecranon Process

The bony projection at the upper end of the ulna, forming the point of the elbow.

Ulnar Notch

A small depression on the distal end of the radius bone, where it articulates with the head of the ulna bone in the forearm.

Articulates

Describes how bones connect or join with each other, often to form joints that allow for movement and support of the body.

Radius

A bone in the forearm on the lateral side (thumb side), which runs parallel to the ulna and is involved in forearm rotation.