The Demand for Corn Has Increased in May Without Any

question 115

Multiple Choice

The demand for corn has increased in May without any change in supply. Eight months later there still has been no change in corn prices. This is an example of a

• A) price floor.
• B) price control.
• C) sticky price.
• D) macroeconomic price.

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Definitions:

Fixed-Term Tenancy

A type of tenancy under which property is leased for a specified period of time, such as a month, a year, or a period of years; also called a tenancy for years.

Sublet

Refers to the act of a tenant renting out a space they have leased to another party.

Community Property

A form of concurrent property ownership in which each spouse owns an undivided one-half interest in property acquired during the marriage.

Undivided Interest

A share in property ownership rights where each owner's portion is not physically divided from the others.