Hank Has Always Had Very High Self-Esteem

question 3

Multiple Choice

Hank has always had very high self-esteem. But recently he's begun to make negative comments about himself. Hank is MOST likely _____ years old.

• A) 3
• B) 9
• C) 15
• D) 22

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Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged on a product, intended to protect consumers from high prices, but can lead to shortages.

Shortage/Surplus

A market condition where the quantity demanded exceeds the quantity supplied (shortage) or the quantity supplied exceeds the quantity demanded (surplus).

Price Ceiling

a legally imposed maximum price on goods or services, above which they may not be sold to prevent market prices from rising too high.

Price Floor

A government or regulatory-imposed price control that sets the minimum price at which a good can be sold, often to protect producers or encourage certain activities.