If a price floor is not binding, then
a. there will be a surplus in the market.
b. there will be a shortage in the market.
c. there will be no effect on the market price or quantity sold.
d. the market will be less efficient than it would be without the price floor.
c
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If consumers' confidence in the economy rises
A) aggregate demand will shift rightward and the price level will rise. B) aggregate demand will shift leftward and the price level will fall. C) aggregate demand will shift rightward and the price level will fall. D) aggregate demand will shift leftward and the price level will rise.
An important condition required for economic growth is
A) economic freedom. B) a libertarian government. C) a totalitarian government. D) a democratic government. E) the incentive to limit international trade so that all economic growth remains within the country.
International dependence theories distinguish between two groups of countries known as
a. rich-poor. b. developed-developing. c. center-periphery. d. independent-dependent.
If the interest rate rose above the equilibrium rate, people would attempt to __________ bonds. Bond prices would __________ and the interest rate would __________
A) sell; rise; fall B) buy; rise; fall C) sell; fall; rise D) buy; rise; rise