If a Nonbinding Price Floor Is Imposed on a Market

question 88

Multiple Choice

If a nonbinding price floor is imposed on a market, then the

• A)quantity sold in the market will decrease.
• B)quantity sold in the market will stay the same.
• C)price in the market will increase.
• D)price in the market will decrease.

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Definitions:

Sympathetic Division

Part of the autonomic nervous system that prepares the body for stressful or energetic activity, often termed the "fight or flight" system.

Autonomic Nervous System

The part of the nervous system that controls involuntary bodily functions, such as heart rate and digestion.

Cerebral Cortex

The outer layer of the brain, involved in complex brain functions such as thought, language, memory, and consciousness.

Escape Behaviors

Actions taken to avoid or remove oneself from uncomfortable, difficult, or distressing situations or feelings.