Multiple Choice
When a binding price floor is imposed on a market, _____.
A) price serves more effectively as a rationing device
B) the quantity demanded at the price floor exceeds the quantity that would have been demanded without the price floor
C) every producer and every consumer gain from it
D) the quantity demanded at the price floor exceeds the quantity supplied
E) the unemployment level in the economy increases
Correct Answer:
Verified
Correct Answer:
Verified
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