A price floor policy establishes a minimum price for a market, and the policy is said to be binding if the market equilibrium price is less than the floor price. What impact does a binding price floor have on the market outcome?
A. Shortage
B. Excess demand
C. Excess supply
D. No impact, and the market price and quantity equal their equilibrium values
C. Excess supply
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If the market price is $40 in a perfectly competitive market, the marginal revenue from selling the fifth unit is
A) $8. B) $20. C) $40. D) $200.
Violent labor-management conflicts of the late 1800s included all of the following except
a. the Haymarket Square riot b. the Carnegie Homestead Works incident c. the Pullman strike d. the Credit Mobilier scandal
When fear of default on bonds issued by U.S. corporations decline, then
a. net capital outflow and the exchange rate both rise. b. net capital outflow rises and the exchange rate falls. c. net capital outflow falls and the exchange rate rises. d. net capital outflow and the exchange rate both fall.
In July 2018 President Trump acted on recommendations from the Commerce Department and imposed 25 percent tariffs on 818 Chinese products exported to the United States in retaliation for the Chinese government's
A. nationalization of U.S. firms located in China. B. unfair policies and practices toward U.S. intellectual property such as patents, copyrights, and trade secrets. C. direct foreign investment in the United States. D. support of North Korea's nuclear weapons program.