CHAPTER 6: THUẾ VÀ CÁC CHÍNH SÁCH CHÍNH PHỦ

What is a Price Ceiling?

• The minimum price allowed to be sold according to the law of a good.

• The best price you can buy in the market.

• The maximum price allowed to be sold according to the law of a good.

• None of the answers are correct.

What is a Price Floor?

• The maximum price allowed to be sold by law.

• The minimum price allowed to be sold by law.

• The best price allowed to be sold.

• The most competitive price.

The price ceiling is only effective when it is set at what level?

• Equal to the equilibrium price.

• Higher than the equilibrium price.

• Lower than the equilibrium price.

• No option is correct.

When is the floor price effective?

• The floor price is lower than the equilibrium price

• The floor price is higher than the equilibrium price

• The floor price is equal to the equilibrium price

• The floor price is equal to the ceiling price

An example of a price floor in reality?

• Rent control policy.

• The market equilibrium price of milk tea is 20,000 VND/cup.

• Regulations on minimum wage.

• None of the above is correct.

An example of a binding price ceiling:

The government sets the maximum selling price of gasoline at ..... while the market price is 25,000 VND/liter

• 28,000 VND/liter

• 26,000 VND/liter

• 27,000 VND/liter

• 23,000 VND/liter

In the image below, if the government sets the price of pencils at $0.4, while the market price is $0.45, this is an example of?

• Effective price floor

• Market equilibrium

• Effective price ceiling

• Production surplus

In the image below, if the government sets the price of pencils at $0.50, while the market price is $0.45, this is an example of?

• Effective price ceiling

• Market equilibrium

• Effective price floor

• Consumer surplus

What phenomenon does the "Price Ceiling" policy cause?

• Surplus of goods

• Market equilibrium

• Shortage of goods

• Helps the economy develop quickly

What phenomenon does the "Price Floor" policy cause?

• Market equilibrium

• Shortage of goods

• Surplus of goods

• No correct answer