The Surplus Created by a Price Floor Will Likely Be

question 104

Multiple Choice

The surplus created by a price floor will likely be

• A) smaller if the good is a necessity.
• B) larger if the good is addictive.
• C) smaller if the good is a luxury.
• D) unaffected by the time that has elapsed since the price ceiling is implemented.
• E) None of the above answers is correct.

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Definitions:

Prison Rape Elimination Act

A United States federal law aimed at preventing and addressing sexual assault and rape in the prison system.

U.S. Law

The legal framework and body of laws that govern the United States, including the Constitution, statutes, case law, and regulations.

Male Prison Rape

The act of sexual assault among male inmates within correctional facilities, a significant issue affecting the safety and rights of prisoners.

Warning Shots

Discharge of firearms not aimed to hit a target but intended to signal or intimidate opponents or to stop an advance.