Question :
121.RefertoFigure6-9.Atwhichpricewouldapricefloorbenonbinding?
a.$8
b.$7
c.$6
d.$9
Figure6-10
122.RefertoFigure6 : 1262429
121.RefertoFigure6-9.Atwhichpricewouldapricefloorbenonbinding?
a.$8
b.$7
c.$6
d.$9
Figure6-10
122.RefertoFigure6-10.Apriceceilingsetat
a.$6willbe bindingand willresult ina shortageof 10units.
b.$6willbebinding andwillresult inashortage of6units.
c.$16will be bindingand will resultin a shortageof 10 units.
d.$16willbe bindingand willresult ina shortageof 4units.
123.RefertoFigure6-10.Apricefloorsetat
a.$6willbebindingandwillresultinasurplusof10units.
b.$6willbebindingandwillresultinasurplusof6units.
c.$16willbebindingandwillresultinasurplusof10units.
d.$16willbebindingandwillresultinasurplusof4units.
Figure6-11
124.RefertoFigure6-11.Ifthegovernmentimposesapriceceilingat$6,itwouldbe
a.bindingifmarketdemandisDemandAorDemandB.
b.non-bindingifmarketdemandisDemandAorDemandB.
c.bindingifmarketdemandisDemandAandnon-bindingifmarketdemandisDemandB.
d.non-bindingifmarketdemandisDemandAandbindingifmarketdemandisDemandB.
125.RefertoFigure6-11.Ifthegovernmentimposesapricefloorat$10,itwouldbe
a.bindingifmarketdemandisDemandAorDemandB.
b.non-bindingifmarketdemandisDemandAorDemandB.
c.bindingifmarketdemandisDemandAandnon-bindingifmarketdemandisDemandB.
d.non-bindingifmarketdemandisDemandAandbindingifmarketdemandisDemandB.
126.RefertoFigure6-11.Whichofthefollowingstatementsisnotcorrect?
a.Agovernment-imposedpriceof$8wouldbeabindingpricefloorifmarketdemandisDemandAandabindingpriceceilingifmarketdemandisDemandB.
b.Agovernment-imposedpriceof$10wouldbeabindingpriceceilingifmarketdemandiseitherDemandAorDemandB.
c.Agovernment-imposedpriceof$4wouldbeabindingpriceceilingifmarketdemandiseitherDemandAorDemandB.
d.Agovernment-imposedpriceof$10wouldbeabindingpricefloorifmarketdemandisDemandAandanon-bindingpriceceilingifmarketdemandisDemandB.
Figure6-12
127.RefertoFigure6-12.WhenthepriceceilingappliesinthismarketandthesupplycurveforgasolineshiftsfromS1toS2,
a.themarketpricewillincreasetoP3.
b.asurpluswilloccuratthenewmarketpriceofP2.
c.themarketpricewillstayatP1.
d.ashortagewilloccuratthenewmarketpriceofP2.
128.RefertoFigure6-12.Whenthepriceceilingappliesinthismarket,andthesupplycurveforgasolineshiftsfromS1toS2,theresulting quantityofgasoline thatisboughtand soldis
a.lessthanQ3.
b.Q3.
c.betweenQ1andQ3.
d.atleastQ1.
129.RefertoFigure6-12.WhichofthefollowingstatementsbestrelatesthefiguretotheeventsthatoccurredintheUnitedStatesinthe1970s?
a.BuyersofgasolinepaidapriceofP1before1973;theypaidapriceofP2afterOPECincreasedthepriceofcrudeoilin1973,andtherewasashortageofgasolineatthatprice.
b.BuyersofgasolinepaidapriceofP1before1973;theypaidapriceofP3afterOPECincreasedthepriceofcrudeoilin1973,andtherewasashortageofgasolineatthatprice.
c.BuyersofgasolinepaidapriceofP2before1973;theypaidapriceofP3afterOPECincreasedthepriceofcrudeoilin1973,withnoshortageofgasolineatthatprice.
d.Thepriceceilingwasbindingbefore1973;thepriceceilingwasnolongerbindingafterOPECincreasedthepriceofcrudeoilin1973.
Figure6-13
ThisfigureshowsthemarketdemandandmarketsupplycurvesforgoodX.
130.RefertoFigure6-13.Whichofthefollowingpriceceilingswouldbebindinginthismarket?
a.$4
b.$5
c.$6
d.$7