A Binding Price Ceiling

question 420

Multiple Choice

A binding price ceiling
i) causes a surplus.
Ii) causes a shortage.
Iii) is set at a price above the equilibrium price.
Iv) is set at a price below the equilibrium price.

• A) ii) only
• B) iv) only
• C) i) and iii) only
• D) ii) and iv) only

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Definitions:

Pluralist

Pertaining to a system or philosophy that acknowledges multiple distinct interests, perspectives, or parties coexisting within society.

Individual Differences

Variabilities among individuals in behavior, personality, or cognitive processes.

Balance Of Power

A situation in which different forces, powers, or influences are distributed in a way that ensures no single entity or group has dominance over others.

Verbal Harassment

The use of words to belittle or demean another person, often creating an offensive or hostile environment.