A Surplus Results When a

question 197

Multiple Choice

A surplus results when a

• A)nonbinding price floor is imposed on a market.
• B)nonbinding price floor is removed from a market.
• C)binding price floor is imposed on a market.
• D)binding price floor is removed from a market.

---

Definitions:

U.S. Dollars

The recognized monetary unit of the United States is represented by the symbol $.

Malaysian Ringgits

The currency of Malaysia, symbolized as RM, used for all financial transactions within the country.

U.S. Dollar Value

The worth of a good, service, or financial security denominated in terms of the United States dollar.

Norwegian Kroners

The official currency of Norway, symbolized as NOK.