A Binding Price Floor

question 242

Multiple Choice

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

Understand the principles of Treisman's modified filter theory.

Identify the methods and effectiveness of different rehearsal techniques for memory retention.

Describe the serial position effect and its implications for recall.

Understand the concept of schemas and their impact on memory and expectation.

---

Definitions:

Compulsory Arbitration Agreements

Contracts where parties agree in advance to resolve future disputes through arbitration rather than litigation, often as a condition of employment.

Fairness

The quality of making judgments that are free from discrimination, honesty, and equity in interpersonal and societal dealings.

Waive Rights

The act of voluntarily relinquishing or giving up a known right or privilege.

Past Practice

is an established custom or way of doing things that, over time, has been accepted and expected by both employers and employees within an organization.