A price floor is binding when it is set:______ a. above the equilibrium price, causing a shortage.
b. below the equilibrium price, causing a surplus.
c. above the equilibrium price, causing a surplus.
d. below the equilibrium price, causing a shortage.

Answers

Answer 1
Answer:

Answer:

C. Above the equilibrium price, causing a surplus.

Explanation:

They can be said to be the government polices imposed that been used in the system of buying and selling to manipulate the market. A binding price ceiling is when the price ceiling that is set by the government is below the prevailing equilibrium price. For example, if the equilibrium price for rent was $100 per month and the government set the price ceiling of $80, then this would be called a binding price ceiling because it would force landlords to lower their price from $100 to $80.

Answer 2
Answer:

Answer:

a. above the equilibrium price, causing a shortage.

Explanation:

A price floor is binding when it is set above the equilibrium price, causing a shortage.

A price floor is the lowest legal price that can be paid in a market for goods and services, labor, or financial capital. When a price floor is set, government purchase the excess product in the market so as to maintain the new price thus resulting in a shortage of the product.


Related Questions

Which of the following branches/agencies of government have no direct roll in establishing the federal budget? A. the executive branch B. the legislative branch. C. the judicial branch D. the Office of Management and Budget..
What is characteristic of George Grenville?
Some species of hares are brown most of the year, but change color to white in the winter. This allows them to blend in through the seasons.
True or False- The first meal eaten on the moon by astronauts Neil Armstrong and Buzz Aldren was a roasted turkey dinner with all the trimmings.
What does it mean when a nation receives the diplomatic representation of another nation?

Is conflict unavoidable among Israel and its Arab neighbors? Why or why not?

Answers


No; both sides believe that the god they believe in gave them that land. They also believe it to be highly holy. As long as religion is in the equation, constant conflict in inevitable. It is possible to end the conflict; just highly unlikely. If everybody on both sides were suddenly unbelievers, nobody would be fighting over it so fervently. There`d be dispute, but not pointless war.

Because their grandparents fought in World War II, Carl and Robert (has/have) conducted interviews with them.a. has
b. have

Answers

The answer to is letter B. To complete the sentence, it should be: Because their grandparents fought in World War II, Carl and Robert have conducted interviews with them. Why the use of "have" instead of "has"? This is because the subject are in a plural nouns which is Carl and Robert.

Experts on social issues tend to view poverty as

Answers

Answer:

It's really more about a lack of educating the children living in poverty that they can get out and how to do it. There is a lot of negative influence that can surround these kids and it is easier from them to make bad choices because of their surroundings. My Dad grew up the 11th out of 12 children in a two bedroom house while his family was on welfare because his father passed away of TB when he was just 3. He went into the Marines and fought in Vietnam so he could get his education paid for. He went on to get his Masters and and works R&D for Intel. He was motivated by wanting something better for himself and was told the Marines could help him get out and make something of himself.

In 1990 how were members of the united states senate chosen

Answers

In 1990, members of the United States Senate are appointed by their state legislatures. Hope this helped!!

In mexican cultures, the concept of __________ stresses male attributes such as dominance, assertiveness, pride, and sexual prowess.

Answers

In mexican cultures, the concept of "machismo" stresses male attributes such as dominance, assertiveness, pride, and sexual prowess.


Machismo is an idea that directs numerous parts of Latin American male conduct, it has specific importance to male sexual culture. As far as machismo, guys have a "far reaching and relatively wild" sexual hunger, and it is their entitlement to fulfill that craving in the manners in which they pick. Interestingly, female sexuality is viewed as a question over which the male has control. Females are relied upon to have just a single sexual accomplice, none previously or outside of marriage.  

Why was the Freedmen's Bureau established by Congress during Southern Reconstruction?

Answers

Answer:  To help former slaves make the change to freedom

Details:

The Freedmen's Bureau was established by Congress in 1865, in the aftermath of the Civil War.  The aim of the Bureau was to provide assistance to former black slaves (as well as poor whites) in the South during the Reconstruction period.  The Freedmen’s Bureau provided food and housing, established schools, and made medical and legal assistance available.  There was an intention of settling former slaves on land confiscated or abandoned during the war, but that didn't materialize. Radical Republicans took over dominance in Congress and they determined that confiscated lands in the South should be returned to their original owners.

The purpose of the Freedmen's Bureau was to feed, teach and cloth former slaves because most of them were slaves there whole life and did not know how to read or write