An effective price floor on wheat will:

A. force otherwise profitable farmers out of business.
B. result in a shortage of wheat.
C. clear the market for wheat.
D. result in a surplus of wheat.

Answer: D

Economics

You might also like to view...

If your income is $40,000 and you pay taxes of $4,650, what is your average tax rate? Show your work

What will be an ideal response?

Economics

In 1991, Congress levied a 10 percent luxury tax on yachts over $100,000 . The tax brought in far less than was anticipated, they must have passed the legislation thinking the demand for yachts was more ___ than it actually was

a. elastic b. inelastic c. unit elastic d. none of the above

Economics