A binding price floor is designed to:
a. increase efficiency.
b. raise the price above the equilibrium price.
c. keep the price below the equilibrium price.
d. generate a shortage
Ans: b. raise the price above the equilibrium price.
Economics
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Indicate whether the statement is true or false
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A) Congress and the Federal Reserve. B) Congress and the president. C) the president and the Federal Reserve. D) the Federal Reserve.
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