The Imposition of a Binding Price Floor on a Market

question 102

Multiple Choice

The imposition of a binding price floor on a market

• A)causes quantity demanded to be greater than quantity supplied.
• B)causes quantity demanded to be less than quantity supplied.
• C)causes quantity demanded to be equal to quantity supplied.
• D)causes a decrease in demand.

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Definitions:

Symbolized Categorical Statement

A statement in logic that classifies a relationship between categories, represented with symbols.

Categorical

Pertaining to categories or classification, often used in logic to describe statements that assert or deny something about all members of a category.

Quantifier

In logic, an expression (such as "all", "some", or "no") that indicates the quantity of specimens to which a proposition applies.

Atomic Open Sentence

A sentence in formal logic that contains a variable and becomes a proposition when the variable is replaced by a definite term.