If the Government Removes a Binding Price Ceiling from a Market,then

question 129

Multiple Choice

If the government removes a binding price ceiling from a market,then the price received by sellers will

• A)decrease,and the quantity sold in the market will decrease.
• B)decrease,and the quantity sold in the market will increase.
• C)increase,and the quantity sold in the market will decrease.
• D)increase,and the quantity sold in the market will increase.

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Definitions:

FOB

An acronym for "Free On Board," a term used in shipping agreements to indicate that the seller is responsible for the goods until they are loaded onto a vessel at the specified location.

FAS

Generally refers to Financial Accounting Standards, which are guidelines for how financial reports are to be prepared by companies.

Void Title

Not true title; e.g., the title held by someone who knowingly or unknowingly purchased stolen goods.

Stolen Title

The illegal acquisition and possession of a property title or document, often through fraudulent means.