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- Question
A binding price floor causes
Options- A. Excess demand for the goods
- B. Surplus supply of goods
- C. Less supply of goods
- D. No demand for the goods
- Correct Answer
- Surplus supply of goods
ExplanationA price floor is the minimum price that can be charged. A binding price floor occurs when the government sets a required price on goods at a price above equilibrium. Because the government requires that prices not drop below this price, that price binds the market for that good.
A binding price ceiling is one that is set below equilibrium price.
- 1. What 'game' was first produced by the Southern Novelty Company in Baltimore, Maryland in 1892?
Options- A. Frisbee
- B. Monopoly
- C. Ouija board
- D. Ping Pong Discuss
- 2. The moon orbits the earth at a mean distance approximately
Options- A. 0.384 million km
- B. 149.6 million km
- C. 579 million km
- D. 227.9 million km Discuss
- 3. The monomer of polythene is
Options- A. vinyl chloride
- B. ethylene
- C. ethyl alcohol
- D. None of the above Discuss
- 4. The most densely populated country of Africa is
Options- A. Mauritius
- B. Rwanda
- C. Burundi
- D. Sierra Leone Discuss
- 5. RAM stands for...
Options- A. Random Access Memory
- B. Really Annoying Machine
- C. Read A Manual
- D. Real Absolute Memory Discuss
- 6. The International Court of Justice is located at
Options- A. Geneva
- B. Hague
- C. Amsterdam
- D. Vienna Discuss
- 7. Galvanised iron sheets have a coating of
Options- A. lead
- B. chromium
- C. zinc
- D. tin Discuss
- 8. Mach number is used in connection with the speed of
Options- A. sound
- B. aircraft
- C. spacecraft
- D. ships Discuss
- 9. The river Jordan drains into the
Options- A. Dead Sea
- B. Adriatic Garden
- C. Gulf of Suez
- D. Resaca Garden Discuss
- 10. How many banks were nationalized in 1969?
Options- A. 16
- B. 14
- C. 15
- D. 20 Discuss
More questions
Correct Answer: Ouija board
Explanation:
The board was invented by Isaac and William Fuld. The word 'Ouija' comes from the French and German words for 'yes', 'oui' and 'ja'.
Correct Answer: 0.384 million km
Correct Answer: ethylene
Correct Answer: Mauritius
Correct Answer: Random Access Memory
Correct Answer: Hague
Correct Answer: zinc
Correct Answer: aircraft
Correct Answer: Dead Sea
Correct Answer: 14
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