To Be Binding,a Price Floor Must Be Set

question 69

Multiple Choice

To be binding,a price floor must be set:

• A) lower than the equilibrium price.
• B) higher than the equilibrium price.
• C) so that quantity demanded exceeds quantity supplied.
• D) lower than the equilibrium price,so that quantity demanded exceeds quantity supplied.

---

Definitions:

Tax Evasion

represents illegal practices to avoid paying taxes, typically by underreporting income, inflating deductions, or hiding money in undisclosed locations.

Tax Laws

Legislation governing the collection of taxes by the government from individuals and businesses, dictating the rates, exemptions, and penalties.

White-collar Criminals

Individuals who commit crimes within the context of their professional occupations, often involving fraud or embezzlement.

Deviance

Behaviors or actions that violate societal norms or values, leading to negative social reactions.